IVT Divergence Forex Indicator
As the name of the indicator implies, the Divergence indicator 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.
Divergence Indicator Preferences
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.