I've had a quick look at the indicator and added a description to the post.boytoy wrote: Fri Jan 10, 2025 6:47 pm This is cool but how is it even used and whats it all about? It's called Divergent Bar but I don't see divergence or what does that even mean...
Dear mrtoolsmrtools wrote: Fri Jan 10, 2025 1:15 am Divergent Bar indicator for MT4 and MT5
Hello, converted it and updated the mt4 version.
What is the Divergent Bar indicator?
The Divergent Bar indicator is designed for scalping and counter-trend trading. It's form of calculation is based off every tick and determines a reversal by comparing the current bar's price action (High, Low, Open and Close) with the previous bar:You can adjust the Offset (Height) for the Arrows based on your preference but there's no other adjustable options in terms of the way the indicator calculates.
- If the current Low is lower than the "previous low" and the Close is higher than the Open it'll display an up arrow
- If the current High is higher than the "previous high" and the Close is lower than the Open, it'll display a down arrow
Basically it uses price action and a comparison between bars to determine trend direction changes and can be used as a scalping indicator without too much delay or add it to a system for extra confirmation.
EURUSDM15.png
! DivergentBar.mq4
DivergentBar.mq5
Hello, did the mt4 version for now, not real sure about mtf arrows yet on mt5.talaate wrote: Sat Jan 25, 2025 10:00 am Dear mrtools
would you, if possible, to add alerts and MTF as well as Limit bar number (default may be 500) options
My Regards
Many Thanksmrtools wrote: Sun Jan 26, 2025 2:38 pm Hello, did the mt4 version for now, not real sure about mtf arrows yet on mt5.
post1295496414.html#p1295496414RockRobb wrote: Sun Jan 12, 2025 6:12 pm Dear Coders and Traders,
Is there any of you who owns an MT5 Candle Time Indicator? (which indicates the the remaining time)
I've been looking all over but still couldn't find it.
Thank you very much for the response.
Regards,
-RR
@mrtools Please can you convert this engulfing bar indicator from mt4 to mt5? It's another confirmation indicator that is helpful for spotting reversals.mrtools wrote: Sun Jan 26, 2025 2:38 pm Hello, did the mt4 version for now, not real sure about mtf arrows yet on mt5.
Hello, made this version, think it is the same.GraniteChief wrote: Sat Mar 08, 2025 2:53 pm @mrtools Please can you convert this engulfing bar indicator from mt4 to mt5? It's another confirmation indicator that is helpful for spotting reversals.
Kind regards,
GC
