Here is the code for an indicator that helps find divergent candles. Turns the Bullish ones Gree and the Bear ones Red. However, its for MT3. Could I just put it in to MT4 and Compile it? Dont want to try cause it might cause a glitch in my platform. So I thought I better ask first.

/*[[
Name := Wiseman 1
Author := David Thomas, Basileus@Moneytec
Notes := Bill Williams Wiseman 1 Divergent bars. ver. 3.
Notes := the changes of Basileus@Moneytec have been corrected and simplified.
Separate Window := No
First Color := LimeGreen
First Draw Type := Histogram
First Symbol := 217
Use Second Data := Yes
Second Color := Red
Second Draw Type := Histogram
Second Symbol := 218
]]*/
Variables : shift(0), prevbars(0), first(True), lips(0), teeth(0), loopbegin(0), median(0), jaws(0), result(0);
SetLoopCount(0);
// check conditions are ok.
if Bars < 3 Or Bars = prevbars then exit;
// check for additional bars loading or total reloading
If Bars < prevbars or Bars-prevbars>1 Then first = True;
prevbars = Bars;

If first Then Begin
// loopbegin prevent counting of counted bars exclude current
loopbegin = Bars-2;
first = False;
End;
// loop from first bar to current bar (with shift=0)
For shift=Bars-5 Downto 0 Begin
result = 0;
median = (H[shift]+L[shift])/2;
lips = iAlligator(13, 8, 8, 5, 5, 3, MODE_SMMA, PRICE_MEDIAN, MODE_GATORLIPS, shift);
teeth = iAlligator(13, 8, 8, 5, 5, 3, MODE_SMMA, PRICE_MEDIAN, MODE_GATORTEETH, shift);
jaws = iAlligator(13, 8, 8, 5, 5, 3, MODE_SMMA, PRICE_MEDIAN, MODE_GATORJAW, shift);

// test for bullish divergent bar:
if ((C[shift] >= median) // close is in lower half of bar
and (H[shift] < Min(Min(lips,teeth),jaws)) // bar is completely below alligator
and (L[shift] < L[shift+1]) and (L[shift] < L[shift+2]) // low is moving down
and (L[shift] < L[shift+3]) and (L[shift] < L[shift+4]) // ...
and (iAO(shift) < iAO(shift+1)) // checking if it's right AO signal
) then result = 1;

// test for bearish divergent bar:
if ((C[shift] <= median) // close is upper half of bar
and (L[shift] > Max(Max(lips,teeth),jaws)) // bar is completely above alligator
and (H[shift] > H[shift+1]) and (H[shift] > H[shift+2]) // high is moving up
and (H[shift] > H[shift+3]) and (H[shift] > H[shift+4]) // ...
and (iAO(shift) > iAO(shift+1)) // checking if it's right AO signal
) then result = -1;

if result < 0 then
{
// red bar.
SetIndexValue(shift, Low[shift]);
SetIndexValue2(shift, High[shift]);
}
if result > 0 then
{
// green bar.
SetIndexValue(shift, High[shift]);
SetIndexValue2(shift, Low[shift]);
}
End;

This is what I have:




//+------------------------------------------------------------------+
//| BW-wiseMan-1.mq4 |
//| Copyright © 2005, wellx |
//| http://www.metaquotes.net |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2005, wellx"
#property link "http://www.metaquotes.net"

#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 Yellow
#property indicator_color2 OrangeRed

extern int updown=5; //ñìåùåíèå èíäèêàòîðà ÷òîáû íå íàëåçàëíà äðóãèå çíà÷êè
extern int back=2; // êîë-âî áàðîâ äëÿ àíàëèçà íàçàä



//---- buffers
double BWWM1Up[];
double BWWM1Down[];

int pos=0;
int i=0;
bool contup=true,contdown=true;


//+-----------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexStyle(0,DRAW_ARROW);
SetIndexArrow(0,140);
SetIndexBuffer(0,BWWM1Up);
SetIndexEmptyValue(0,0.0);

SetIndexStyle(1,DRAW_ARROW);
SetIndexArrow(1,140);
SetIndexBuffer(1,BWWM1Down);
SetIndexEmptyValue(1,0.0);

IndicatorDigits(6);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//---- TODO: add your code here

//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int cbars=IndicatorCounted();
if (cbars<0) return(-1);
if (cbars>0) cbars--;
//---- TODO: add your code here
//if (cbars == 0) return(0);
pos=cbars;
while (pos > 0)
{
BWWM1Up[pos]=NULL;
BWWM1Down[pos]=NULL;

if (
(Low[pos]> iAlligator(NULL,0,13,8,8,5,5,3, MODE_SMMA, PRICE_MEDIAN, MODE_GATORLIPS, pos))
&&
(Low[pos]> iAlligator(NULL,0,13,8,8,5,5,3, MODE_SMMA, PRICE_MEDIAN, MODE_GATORTEETH, pos))
&&
(Low[pos]> iAlligator(NULL,0,13,8,8,5,5,3, MODE_SMMA, PRICE_MEDIAN, MODE_GATORJAW, pos))
&&
(Close[pos]<((High[pos]+Low[pos])/2))
)
{
contup=true;
for(i=1; i <= back ;i++)
{
if (High[pos]<=High[pos+i])
{
contup=false;
break;
}
}
if (contup) BWWM1Up[pos]=(High[pos]+updown*Point);
}


if (
(High[pos]< iAlligator(NULL,0,13,8,8,5,5,3, MODE_SMMA, PRICE_MEDIAN, MODE_GATORLIPS, pos))
&&
(High[pos]< iAlligator(NULL,0,13,8,8,5,5,3, MODE_SMMA, PRICE_MEDIAN, MODE_GATORTEETH, pos))
&&
(High[pos]< iAlligator(NULL,0,13,8,8,5,5,3, MODE_SMMA, PRICE_MEDIAN, MODE_GATORJAW, pos))
&&
(Close[pos]>((High[pos]+Low[pos])/2))
)
{
contdown=true;
for(i=1; i <= back ;i++)
{
if (Low[pos]>=Low[pos+i])
{
contdown=false;
break;
}
}
if (contdown) BWWM1Down[pos]=(Low[pos]-updown*Point);
}

pos--;
}

//----
return(0);
}
//+------------------------------------------------------------------+

Thanx Bro! Works great!

Thanx!

wiseman 2:


//+------------------------------------------------------------------+
//| wlxBWWiseMan-2.mq4 |
//| Copyright © 2005, wellx |
//| http://www.metaquotes.net |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2005, wellx"
#property link "http://www.metaquotes.net"

#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 DarkOrange
#property indicator_color2 Magenta

//---- input parameters

extern int updown=8;
//---- buffers
double BWWM2Up[];
double BWWM2Down[];

int pos=0;
double AO,AO1,AO2,AO3,AO4;

//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexStyle(0,DRAW_ARROW);
SetIndexArrow(0,141);
SetIndexBuffer(0,BWWM2Up);
SetIndexEmptyValue(0,0.0);
SetIndexStyle(1,DRAW_ARROW);
SetIndexArrow(1,141);
SetIndexBuffer(1,BWWM2Down);
SetIndexEmptyValue(1,0.0);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//---- TODO: add your code here

//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int cbars=IndicatorCounted();
if (cbars<0) return(-1);
if (cbars>0) cbars--;
//---- TODO: add your code here
if (cbars > (Bars-40)) pos=(Bars-40);
else pos=cbars;
//----
while (pos > 0)
{
BWWM2Up[pos]=NULL;
BWWM2Down[pos]=NULL;
AO=iAO(NULL,0,pos);
AO1=iAO(NULL,0,pos+1);
AO2=iAO(NULL,0,pos+2);
AO3=iAO(NULL,0,pos+3);
AO4=iAO(NULL,0,pos+4);

if (
(AO4>0.0 && AO3>0.0 )
&&
(AO4<AO3 && AO3>AO2 && AO2>AO1 && AO1>AO)
)
BWWM2Up[pos]=(High[pos]+updown*Point);

if (
(AO4<0.0 && AO3<0.0 )
&&
(AO4>AO3 && AO3<AO2 && AO2<AO1 && AO1<AO)
)
BWWM2Down[pos]=(Low[pos]-updown*Point);
pos--;
}


return(0);
}
//+------------------------------------------------------------------+