The Repulse Divergence indicator for Metatrader 5 is a divergence scanning tool that draws buy and sell trend reversal arrows on the chart.
The indicator provides low risk trend reversal signals that frequently occur in exhausting trends.
How do the signal arrows work?
- A green colored arrow represents a bullish trend reversal signal.
- A red colored arrow represents a bearish trend reversal signal.
The following indicator inputs and parameters can be modified: repulse period, signal period, repulse line.
For M1 and M5 chart traders: deploy the Repulse indicator during the London and New York trading sessions.
Make yourself familiar with this technical indicator and test it first on a demo account before using it on real trading account.
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Repulse_Divergence.mq5 Indicator (MT5)
Chart Example
The following chart shows what the Repulse Divergence indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Repulse Divergence Indicator?
Find a simple trading example below:
Buy Signal
- A green colored divergence arrow is a buy signal.
- Open a buy order and place a stop loss slightly below short-term support.
- Close the buy trade at key resistance levels.
Sell Signal
- A red colored divergence arrow is a sell signal.
- Open a sell order and place a stop loss slightly above short-term resistance.
- Close the sell trade at key support levels.
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Repulse_Divergence.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Repulse_Divergence.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration