I know price/indicator divergence indicators are available on platforms such as TradeStation and Trade Navigator. However, I'm looking for a reliable price divergence indicator for Metatrader 4.

Specifically, I'd like to track divergence between price and CCI. One scenario is represented in the attached chart showing examples on GBPUSD M15. Here I'm looking at what Elder refers to as type A divergence when price and the indicator have opposing peaks/valleys.

Is anyone aware of a decent divergence indicator for MT4? Coding one myself is currently a little bit beyond my programming capabilities.

Once I get and adapt the indicator, I'd be happy to start a thread discussing in detail rules for this system I'm developing.

Thanks in advance for any pointers regarding said indicator.

Cheers

Bill

Attached Images

cablem15 price cci diverg ex1.gif (17.7 KB, 470 views)

I'd be interested to see the same thing, unfortunatly the two divergence indicators out there already are just not up to par.

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u could drop a price ma set to seperate window and also drop a cci on the same widow. ill mke somethig when i get some time

To be clear, you're referring to Barry's and what other one? Can you post it?
Surely, someone has got to have focused on solving this problem before within the MT4 community. Divergence works!

I use divergence to trade...... and I use the following indicators as each has different stories to tell

Macd
Stoch
ROC
CCI

not all of the indicators can catch all of the divergences.... and it may be good to consider this before designing an indicator

dave