Introduction
So, you've stumbled upon the RSI Divergence Indicator for MT4. It's not like there aren't a ton of divergence indicators out there already, but sure, let's give this one a whirl. With a rating of 4.67, I suppose it's good but hey, trust is earned, right? Anyway, let's dive into how to install and configure this thing for what it's worth.
Installation and Setup
Getting this RSI Divergence Indicator up and running isn't rocket science, but let's walk through the process just in case.
- First, download the RSI Divergence Indicator from this link.
- Move the downloaded .ex4 file to the 'Indicators' directory of your MT4 platform. You'll find it under 'MQL4' in the 'Experts' folder.
- Restart your MetaTrader 4 platform to see the indicator in the 'Navigator' under 'Custom Indicators.'
- Drag the indicator onto your chart. A settings window will pop up. Adjust parameters like RSI period, divergence types, and alert options according to your preferences.
- Hit OK and watch the magic, or lack thereof, unfold.
User Experience
So, what do the users think? Let's see:
- Finally an RSI Divergence Indicator that is adjustable! Better than others I paid for. - Jack Hudson
- Seems OK so far - 1122jpw4466
- Спасибо! Отличный индикатор! - Nina Duvenage
- A perfect help for Divergence! - Samuel Ohida
- Good Indicator - Rich8989
Well, there you have it. Mixed reviews, but mostly on the positive side. It's apparently adjustable, which sets it apart from the dime-a-dozen indicators out there.
Tips for Enhancing Performance
Want to squeeze every last drop of effectiveness from this indicator? Here are some pointers:
- Optimization: Tweak the settings periodically based on market conditions. The default settings are rarely one size fits all.
- Combine with Other Indicators: Relying solely on one indicator is like driving with one eye closed. Combine it with moving averages, MACD, or support and resistance levels.
- Backtest: Seriously, backtest the living daylights out of it before you go live. Why risk your money without knowing how it performs on historical data?
Source Code of RSI Divergence Indicator MT4
We don't have the original source code for the RSI Divergence Indicator sold on MQL5. However, if you're into DIY projects, we could whip up a version based on its description. Just shoot your queries our way. Remember, this will be our interpretation, not a clone of the original. Our team at EASY Trading Team is always game for a coding challenge, as long as you know what you're getting into.
Code:
You don't have permission to view the code content. Log in or register now.Download RSI Divergence Indicator MT4
If you're keen on giving this RSI Divergence Indicator a spin, head over to this link. The team at EASY Trading Team crafted a version based on the MQL5 description. Keep in mind, we're not selling it, just sharing our take on it.
Feel free to ask any questions regarding the code. We'll try not to roll our eyes too much.