Volume Divergence Indicator for MT4 - MT5
Draws divergence lines on the chart and on the Volume indicator, without the general problems of the other solutions (inaccurate peak/bottom detection, divergence line draws over the candle-body, etc). It calculates with the last 300 visible bars, and uses a basic candle pattern and divergence slope filtering with multi-timeframe and alert ability. The indicator is non repainting (more info)! The arrow will appear when the trigger candle is closed and the divergence formation is valid, but before entry a strong filtering method is required! The alert functions work with all trendlines and horizontal lines on the Volume divergence window, not only with TrueTL's. For example, you can use it for alerting when your favorite level breaks.
- Draws all divergences automatically on the Volume indicator
- NEW! Show/hide button (more info)
- NEW! Available on MT4 - MT5
- Backtesting ability (Example Video)
- MTF (multi-timeframe) ability
- Non-repaint: shows arrows when the divergence formation is valid (more info)
- NEW! Divergence prediction: draws possible divergence before it's formed. High risk: the divergence prediction arrow can disappear before the candle closes if the divergence formation isn't valid. (more info)
- NEW! Sensitivity settings
- Compatible with line chart
- Compatible with offline charts /such as Renko chart/
- Switchable candle-body filtering
- NEW! Fully customizable alert functions for drawing objects (not only for TrueTL's objects) and for the oscillators (such as alerting when crossing an adjusted level or change the direction).
- NEW! Fully customizable drawing styles for divergence lines and arrows and for the oscillator lines (such as different colors if direction changes).
Features and settings:
- Version: the indicator's actual version number. If an update is released, you can download our installer or simply overwrite the files with our self-extractor or you can do it from the zip file manually (installation steps).
- Username: enter your username that you received after purchase. Autosave it so if you once entered it, it is not necessary to enter again. (about our ex4 protection).
- Auto refresh: If enabled, the indicator refreshes lines when the candle is closed or if you change the Timeframe or Symbol. If disabled, the indicator redraws only when you run the "[TrueTL] Calculate" script. If enabled, the auto-scroll must be enabled too in MT4 (Example Video). (Backtesting ability: if the auto-scroll is disabled in MT4, and the Auto Refresh is disabled in the indicator's settings too, you can scroll back the chart, and the script will draw all past trendlines until the last visible candle.)
- Volume timeframe: you can set the indicator's timeframe. The arrows will appear only when the higher timeframe's candle is closed to make sure that the candle’s configuration is valid and the divergence is fine.
- Volume bar shift: you can set the offset of the line drawing.
- Stepless (linear interpolation): The higher timeframe’s indicator data will make steps in lower timeframes. This function is for interpolating these. More info...
- Draw divergences on line chart: switch the indicator to draw divergence lines on the MT4's Line Chart.
- NEW! Maximum distance of divergences in bars: You can set the maximum distance of divergences in bars. The default setting is 300 bars (this is the maximum distance) and you can set lower value.
- Divergence lines filtered by the candle bodies: you can show/hide the divergence lines that go over the candle-bodies.
- NEW! Sensitivity of the divergence detections: with higher and highest sensitivity settings You can see more (but of less quality) divergences on the chart.
- NEW! Divergence prediction: You can see the possible divergence before the candle is closing. It has a very high risk because at this moment we can't be sure if the divergence formation is valid up until the candle has closed. In return, we can enter sooner, maybe at a better price for us. (more info)
- Show Regular Divergence / Show Hidden Divergence: enable/disable the different types of divergences (more about types of divergence).
- Draw Arrows On Main Chart: on/off the arrows for trigger candles.
- Draw Divergence Lines On Main Chart: on/off the divergence lines on the main chart.
- Draw Divergence Lines On Indicator: on/off the divergence lines on the Volume indicator window.
- Draw lines and arrows in the Background: you can move the TrueTL's objects to the background.
- Allow Multiple instances: you can attach two or more instances of the same indicator to one chart. If you would like to use the indicator with old-style object names (if you have developed an EA or for another reason) you can disable this function.
- User Notification Corner: set the corner on the chart to show user notification for example if a new update is released.
- Enable or disable all Alert Functions: enable or disable all of the alert functions.
- Alert for Divergence: on/off the alert of TrueTL's divergence signals.
- Alert for Predicted Divergences: on/off the alert of TrueTL's predicted divergence signals.
- Alert for user's trendlines and horizontal lines: on/off the alert of other trendlines and horizontal lines that are not TrueTL's.
- Alert only for objects with specified color: switch the color filtering of the other trendlines or horizontal lines to alert.
- Alert only for these colored objects: Specify the color of the other trendlines or horizontal lines to alert just in case the "Color filter" is enabled.
- Alert at breakout after candle closed: alert at trendline breakout after the candle closed.
- Alert at breakout before candle closes: alert at trendline breakout before the candle is closing.
- Touch Alert: alert when price is approaching a trendline.
- Adjust the distance for touch alert: you can set the distance from the trendline where the alert will be triggered (adjust in indicator's value).
- Alert if the main line turned around after bar closed / alert if the main line is turning around before bar closes: specify the alert events.
- Specify a short message to identify which indicator alerted: specify a short message for you to identify which indicator alerted.
- Alert via Email / Push notification / Popup window / Alert with sound: you can switch alert modes.
- Choose Sound File for sound alert: specify a sound file that plays a sound alert.
- Alert with Pictogram on the chart's corner: shows a wingdings character of the alert on the chart's corner to identify which indicator alerted.
- Adjust the symbol of pictogram alerts: specify the wingdings character’s number of the pictogram.
- Adjust the Corner of pictogram alerts: specify the corner on the chart to show the pictogram.
- NEW! Adjust coordinate X / coordinate Y / size of pictogram alerts: specify the coordinates and size of pictorgram alert.
- NEW! Adjust the default / up / down colors of pictogram alerts: specify the direction dependent colors of pictogram alert.
- Write Alert message into a File: write alert messages to a file. "TrueTL Alert.csv" file is placed in the MQL4/Files or MQL5/Files folder.
Color and Style Settings
- Color mode: you can set different methods of the oscillator line's coloring depending on level or direction.
- Draw main line in histogram mode: you can switch between line and histogram drawing mode of the main oscillator line.
- Color 1 / 2 / 3 / 4 of Main line: specify the colors of the main oscillator line depending on the color mode setting.
- Width / Style of Main line: you can set the width and the style (solid, dotted, etc.) of the main oscillator line.
- Various color / symbol / style settings for the divergence drawing...
Show/hide button Settings
- Enable show / hide button: Enable the show / hide button (more info)
- Various settings of the show / hide button...