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【MT4/MT5】MACD Divergence Indicator
【MT4/MT5】MACD Divergence Indicator
- Overview
- How to install
- How to set up
Display:
This indicator detects regular and hidden divergences between price and the MACD line or histogram and highlights them with lines, arrows, and labels to help identify potential entry opportunities.
Feature: MACD divergence detection
Display the MACD line, signal line, histogram, and zero line
It calculates the MACD internally and displays the MACD line, signal line, histogram, and zero line together in the MACD subwindow. There is no need to apply MT4/MT5's built-in MACD separately to the chart. You can individually show or hide each element, as well as customize their colors and widths to suit your preferences.
Detects regular and hidden divergences
By comparing price highs and lows with those of the MACD line or histogram, this indicator detects regular and hidden divergences, which can indicate potential trend reversals and continuations, respectively. Divergences are highlighted with lines on both the main chart and MACD subwindow, with arrows and labels additionally displayed only in the subwindow. The divergence type can be selected as regular, hidden, or both in the Divergence Mode parameter.
Find divergences near the zero line
The Zero Line Filter only displays divergences that occur when the MACD is near the zero line. With Zero Filter Pivot Mode, you can choose whether both pivots or either pivot must meet the criteria, allowing you to adjust signal frequency and accuracy.
Focus on potential trend continuations with the Trend Filter
The Trend Filter only displays hidden divergences that occur in upward or downward trends, based on the selected Trend Filter Mode. Since regular divergences are excluded, you can focus on trend continuation signals.
Select MACD line or histogram for divergence detection
Choose the data used for divergence detection from MACD line highs/lows, MACD histogram peaks/troughs, or both. When both are selected, duplicate signals are combined into the MACD line signals for a cleaner view.
Never miss a divergence with alerts
Receive pop-up, push, or email notifications when new divergences are identified. You can stay on top of potential reversals and continuations without constantly watching the charts.
Important notes
How to install
To use MACD Divergence Indicator, install the "[Myforex] MACD Divergence Indicator" file on MetaTrader4 (MT4) / MetaTrader5 (MT5).
Step 1
Click "File" from the menu bar at the top of MT4/MT5 and choose "Open Data Folder".
Step 2
After opening the data folder, double-click the folder "MQL5 (MQL4 for MT4)" in it to open it.
Step 3
Double-click to open the "Indicators" folder in the MQL5 folder.
Step 4
Save the "[Myforex] MACD Divergence Indicator" in the "Indicators" folder.
Step 5
Once the file is in the folder, right-click "Indicators" in the Navigator and choose "Refresh" from the displayed menu.
Step 6
After checking that MACD Divergence Indicator is shown in the "Indicators" of the Navigator, apply it to a chart by double-clicking or dragging and dropping.
If you can't see the Navigator window, Go to the menu bar and select "View" → "Navigator". Alternatively, press Ctrl+N to show or hide the Navigator window.
Step 7
Refer to the "How to set up" page to make further settings in the "Inputs" tab, then click "OK".
If the indicator can't be added to a chart, Verify that the indicator is saved in the Indicators folder and that the file name has not been changed. If it still doesn't appear after refreshing the Navigator window, restart MT5 and try again.
How to set up
After applying the indicator to the chart, set the parameters according to your style.
Step 1
First, open the "Inputs" tab.
Step 2
Set the parameters as follows.
General Settings
| Item name | Description |
|---|---|
| Divergence Mode | Choose divergence types to detect: regular, hidden or both. |
| Divergence Source | Choose the source to use for divergence detection: MACD line, histogram, or both. |
| Fast EMA Period | Set the short-term EMA period used to calculate MACD. |
| Slow EMA Period | Set the long-term EMA period used to calculate MACD. |
| Signal Period | Set the period used to calculate the signal line. |
| Applied Price | Select the price type used for MACD calculation. |
| Pivot Left Bars | Set the number of bars to the left of a high/low used to identify pivots. |
| Pivot Right Bars | Set the number of bars to the right of a high/low used to identify pivots. |
| Min Pivot Distance | Sets the minimum bar distance between two pivots to detect a divergence. |
| Max Pivot Distance | Sets the maximum bar distance between two pivots to detect a divergence. |
| Pivot Match Tolerance | Set the maximum number of bars allowed between matching price and MACD pivots. |
| Use Confirmed Pivot | Enable this option to use only confirmed pivots, reducing fluctuations from unconfirmed price movements. |
| Signal Interval | Set the minimum number of bars between signals of the same direction. |
| Max Search Bars | Set the maximum number of bars to search for divergences. |
| Divergence Mode |
| Choose divergence types to detect: regular, hidden or both. |
| Divergence Source |
| Choose the source to use for divergence detection: MACD line, histogram, or both. |
| Fast EMA Period |
| Set the short-term EMA period used to calculate MACD. |
| Slow EMA Period |
| Set the long-term EMA period used to calculate MACD. |
| Signal Period |
| Set the period used to calculate the signal line. |
| Applied Price |
| Select the price type used for MACD calculation. |
| Pivot Left Bars |
| Set the number of bars to the left of a high/low used to identify pivots. |
| Pivot Right Bars |
| Set the number of bars to the right of a high/low used to identify pivots. |
| Min Pivot Distance |
| Sets the minimum bar distance between two pivots to detect a divergence. |
| Max Pivot Distance |
| Sets the maximum bar distance between two pivots to detect a divergence. |
| Pivot Match Tolerance |
| Set the maximum number of bars allowed between matching price and MACD pivots. |
| Use Confirmed Pivot |
| Enable this option to use only confirmed pivots, reducing fluctuations from unconfirmed price movements. |
| Signal Interval |
| Set the minimum number of bars between signals of the same direction. |
| Max Search Bars |
| Set the maximum number of bars to search for divergences. |
Zero Filter Settings
| Item name | Description |
|---|---|
| Zero Line Margin Mode | Choose a fixed value or automatic calculation for the range considered near the zero line. |
| Zero Filter Pivot Mode | Choose whether the Zero Line Filter requires both pivots or either pivot to meet the condition. |
| Zero Line Margin | Set the range considered near the zero line when the fixed value mode is selected. |
| Zero Line Margin Percent | Set the percentage to use when the automatic calculation mode is selected. |
| Zero Line Auto Lookback | Set the number of bars used to calculate the recent MACD range for zero line margin. |
| Zero Line Margin Mode |
| Choose a fixed value or automatic calculation for the range considered near the zero line. |
| Zero Filter Pivot Mode |
| Choose whether the Zero Line Filter requires both pivots or either pivot to meet the condition. |
| Zero Line Margin |
| Set the range considered near the zero line when the fixed value mode is selected. |
| Zero Line Margin Percent |
| Set the percentage to use when the automatic calculation mode is selected. |
| Zero Line Auto Lookback |
| Set the number of bars used to calculate the recent MACD range for zero line margin. |
Trend Filter Settings
| Item name | Description |
|---|---|
| Trend Filter Mode | Select the method used to identify upward and downward trends for the Trend Filter. |
| Trend MA Period | Set the MA period used to identify the trend. |
| Trend MA Method | Set the MA type used to identify the trend. |
| Trend MA Applied Price | Set the price type used to identify the trend. |
| Trend Slope Lookback | Set the number of bars to check the MA slope. |
| Trend Filter Mode |
| Select the method used to identify upward and downward trends for the Trend Filter. |
| Trend MA Period |
| Set the MA period used to identify the trend. |
| Trend MA Method |
| Set the MA type used to identify the trend. |
| Trend MA Applied Price |
| Set the price type used to identify the trend. |
| Trend Slope Lookback |
| Set the number of bars to check the MA slope. |
Display Settings
| Item name | Description |
|---|---|
| Show Price Divergence Lines | Display divergence lines in the main chart. |
| Show MACD Line | Display the MACD line in the MACD subwindow. |
| Show Signal Line | Display the signal line in the MACD subwindow. |
| Show Histogram | Display the histogram in the MACD subwindow. |
| Show Zero Line | Display the zero line in the MACD subwindow. |
| Show MACD Divergence Lines | Display the divergence lines in the MACD subwindow. |
| Show Arrows | Display arrows at divergence points. |
| Show Labels | Display labels indicating the divergence type. |
| Max MACD Display Bars | Set the maximum number of bars for the MACD line, signal line, and histogram. |
| Max Signals Per Type | Set the maximum number of signals to display, counting from the latest. |
| Label Font Size | Set the divergence label font size. |
| Arrow Offset Rate | Set the divergence arrow offset as a percentage. |
| Show Price Divergence Lines |
| Display divergence lines in the main chart. |
| Show MACD Line |
| Display the MACD line in the MACD subwindow. |
| Show Signal Line |
| Display the signal line in the MACD subwindow. |
| Show Histogram |
| Display the histogram in the MACD subwindow. |
| Show Zero Line |
| Display the zero line in the MACD subwindow. |
| Show MACD Divergence Lines |
| Display the divergence lines in the MACD subwindow. |
| Show Arrows |
| Display arrows at divergence points. |
| Show Labels |
| Display labels indicating the divergence type. |
| Max MACD Display Bars |
| Set the maximum number of bars for the MACD line, signal line, and histogram. |
| Max Signals Per Type |
| Set the maximum number of signals to display, counting from the latest. |
| Label Font Size |
| Set the divergence label font size. |
| Arrow Offset Rate |
| Set the divergence arrow offset as a percentage. |
Max Label Count is omitted from this table as it exists for compatibility and future use and does not affect the display. Use Max Signals Per Type instead.
Color Settings
| Item name | Description |
|---|---|
| MACD Line Color | Set the MACD line color. |
| Signal Line Color | Set the signal line color. |
| Histogram Positive Expanding Color | Set the color used when the histogram is expanding in the positive range. |
| Histogram Positive Shrinking Color | Set the color used when the histogram is shrinking in the positive range. |
| Histogram Negative Expanding Color | Set the color used when the histogram is expanding in the negative range. |
| Histogram Negative Shrinking Color | Set the color used when the histogram is shrinking in the negative range. |
| Zero Line Color | Set the zero line color. |
| Bull Regular Color | Set the color of lines, arrows and labels for bullish regular divergences. |
| Bear Regular Color | Set the color of lines, arrows and labels for bearish regular divergences. |
| Bull Hidden Color | Set the color of lines, arrows and labels for bullish hidden divergences. |
| Bear Hidden Color | Set the color of lines, arrows and labels for bearish hidden divergences. |
| Bull Zero Filter Color | Set the color of bullish divergences when the zero line filter is applied. |
| Bear Zero Filter Color | Set the color of bearish divergences when the zero line filter is applied. |
| Bull Hidden Zero Filter Color | Set the color of bullish hidden divergences when the zero line filter is applied. |
| Bear Hidden Zero Filter Color | Set the color of bearish hidden divergences when the zero line filter is applied. |
| Bull Trend Hidden Color | Set the color of bullish hidden divergences when the trend filter is applied. |
| Bear Trend Hidden Color | Set the color of bearish hidden divergences when the trend filter is applied. |
| MACD Line Color |
| Set the MACD line color. |
| Signal Line Color |
| Set the signal line color. |
| Histogram Positive Expanding Color |
| Set the color used when the histogram is expanding in the positive range. |
| Histogram Positive Shrinking Color |
| Set the color used when the histogram is shrinking in the positive range. |
| Histogram Negative Expanding Color |
| Set the color used when the histogram is expanding in the negative range. |
| Histogram Negative Shrinking Color |
| Set the color used when the histogram is shrinking in the negative range. |
| Zero Line Color |
| Set the zero line color. |
| Bull Regular Color |
| Set the color of lines, arrows and labels for bullish regular divergences. |
| Bear Regular Color |
| Set the color of lines, arrows and labels for bearish regular divergences. |
| Bull Hidden Color |
| Set the color of lines, arrows and labels for bullish hidden divergences. |
| Bear Hidden Color |
| Set the color of lines, arrows and labels for bearish hidden divergences. |
| Bull Zero Filter Color |
| Set the color of bullish divergences when the zero line filter is applied. |
| Bear Zero Filter Color |
| Set the color of bearish divergences when the zero line filter is applied. |
| Bull Hidden Zero Filter Color |
| Set the color of bullish hidden divergences when the zero line filter is applied. |
| Bear Hidden Zero Filter Color |
| Set the color of bearish hidden divergences when the zero line filter is applied. |
| Bull Trend Hidden Color |
| Set the color of bullish hidden divergences when the trend filter is applied. |
| Bear Trend Hidden Color |
| Set the color of bearish hidden divergences when the trend filter is applied. |
Line Settings
| Item name | Description |
|---|---|
| MACD Line Width | Set the MACD line width. |
| Signal Line Width | Set the signal line width. |
| Histogram Width | Set the histogram bar width. |
| Divergence Line Width | Set the width of divergence lines in the MACD subwindow. |
| Divergence Line Style | Set the type of divergence lines (e.g., solid, dotted) in the MACD subwindow. |
| Arrow size | Set the arrow size used to signal divergences. |
| MACD Line Width |
| Set the MACD line width. |
| Signal Line Width |
| Set the signal line width. |
| Histogram Width |
| Set the histogram bar width. |
| Divergence Line Width |
| Set the width of divergence lines in the MACD subwindow. |
| Divergence Line Style |
| Set the type of divergence lines (e.g., solid, dotted) in the MACD subwindow. |
| Arrow size |
| Set the arrow size used to signal divergences. |
Alert Settings
| Item name | Description |
|---|---|
| Enable Pop-up Alert | Enable this option to receive pop-up notifications when a divergence is confirmed. |
| Enable Push Notification | Enable this option to receive push notifications when a divergence is confirmed. Set up your MetaQuotes ID in MT4/MT5 first. |
| Enable Email Notification | Enable this option to receive emails when a divergence is confirmed. MT4/5 email settings must be configured first. |
| Enable Pop-up Alert |
| Enable this option to receive pop-up notifications when a divergence is confirmed. |
| Enable Push Notification |
| Enable this option to receive push notifications when a divergence is confirmed. Set up your MetaQuotes ID in MT4/MT5 first. |
| Enable Email Notification |
| Enable this option to receive emails when a divergence is confirmed. MT4/5 email settings must be configured first. |
Created
: 2026.09.11
Last updated
: 2026.09.16
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