The AO Divergence Forex indicator for Metatrader 4 spots divergences that occur between price and the AO oscillator.
The AO Divergence indicator oscillates above and below its neutral 0.00 level.
Key Points:
- Price action above the 0.00 level is considered bullish.
- Price action below the 0.00 level is considered bearish.
The indicator will draw a blue thick line on the chart when it detects a bullish or bearish divergence between price and the oscillator.
It’s recommended to confirm a new trade with additional trading indicators.
Free Download
Download the “ao-divergence-indicator.mq4” indicator for MT4
Indicator Example Chart (EUR/USD Daily)
How to trade with it (example)?
Execute a long position when the AO Oscillator finds a bullish divergence on the chart above the 0.00 neutral level.
Execute a short position when the AO Oscillator finds a bearish divergence on the chart below the 0.00 neutral level.
Utilize your own take profit and stop loss method.
Feel free to use your own favorite trading method to open and close trades with the AO Divergence Forex indicator.
Indicator Specifications
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Input Parameters: Fast MA, slow MA, divergence bars, mode, color settings & style
Indicator type: divergences
Repaint? Does not repaint the divergences found on the chart.
Download Now
Download the “ao-divergence-indicator.mq4” indicator for Metatrader 4
Usage:
Works for any trade style: scalping, day trading and swing trading .
The AO Divergence Forex indicator for MT4 can be used as a standalone signals indicator.
However, it’s advised to combine it with trend trading indicators to find the perfect entry and exit.
Installation:
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the ao-divergence-indicator.mq4 indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.