• First For Trading

Free MT4 Divergence Scanner

Divergences can be difficult to find and are scarce in frequency. But divergences are one of the most reliable and profitable trading patterns. Divergence exists when an indicator does not “agree” with price action: A sell divergence forms on your chart when price makes a higher high but the indicator you are using makes a lower high (see red lines in image below).

The opposite occurs for buys i.e. price shows a lower low but the indicator shows a higher low (see blue lines in image above).

There are two types of divergences: regular and hidden divergences. Regular divergences indicate a possible change in trend while hidden divergences point towards trend continuation.

This free MT4 indicator from Arthur at PZ Trading is a lite version of the MT4 divergence scanner and finds regular and hidden divergences using many oscillators:

  • RSI

  • CCI

  • MACD

  • Stochastic

  • Momentum

  • Awesome Oscillator

  • Accelerator Oscillator

  • Williams Percentage Range

This MT4 indicator implements trading signals based on breakouts and a multi-timeframe and multi-symbol scanner which searches for divergences in many instruments and timeframes from a single chart (see image below).

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