As the name of the indicator implies, NRP Divergence indicator for Metatrader 4 searches for bullish and bearish divergences between price and indicator.
This is a powerful tool used by many Forex traders to find an entry point in an existing trend.
Some even use it to trade market reversals.
Buy: Wait for the green arrow.
Sell: Wait for the pink arrow.
Important: use in agreement with a trending indicator to filter out most false entry signals.
For example, try the 100 exponential moving average with this divergences indicator.
Currency pairs: any
Preferred Time frames: Suitable for 1 min charts and above.
Sessions: Around the clock
Configurable Indicator Options
Colors, oversold level, overbought level, draw divergences, draw price trend lines
How to install the Wildhog NRP Divergence custom indicator in Metatrader 4?
- Download the Wildhog NRP Divergence.ex4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.