The OBV Divergence Indicator for MetaTrader 4 helps detect divergences between price and volume, based on the On Balance Volume (OBV) method. It marks bullish divergences with green lines and bearish divergences with red lines, giving traders a clear view of potential reversal zones.
Specifications
Category: Volume, Signal & Forecast, Trading Assist
Platform: MetaTrader 4
Skill Level: Intermediate
Type: Reversal
Timeframe: Multi-Timeframe
Styles: Day Trading, Scalping, Swing Trading
Markets: Forex, Stocks, Indices, Commodities, Crypto
Download: https://cdn.tradingfinder.com/file/477277/obv-divergence-mt4-by-tflab.zip
Key Features
Example Scenarios
Settings
Summary
This indicator combines visual cues with analytical data to highlight market reversal points. By integrating divergence signals with supporting statistics, it helps traders make informed entry and exit decisions.
Specifications
Category: Volume, Signal & Forecast, Trading Assist
Platform: MetaTrader 4
Skill Level: Intermediate
Type: Reversal
Timeframe: Multi-Timeframe
Styles: Day Trading, Scalping, Swing Trading
Markets: Forex, Stocks, Indices, Commodities, Crypto
Download: https://cdn.tradingfinder.com/file/477277/obv-divergence-mt4-by-tflab.zip
Key Features
- Visual divergence display with clear green/red lines
- On-chart table showing divergence type, presence, count, quality, and phase change
- Works across multiple instruments and timeframes
- Supports bullish and bearish reversal identification
Example Scenarios
- Bullish Divergence: Price turns upward after a green-line signal, often indicating a buying opportunity
- Bearish Divergence: Price drops after a red-line signal, often warning of a potential sell
Settings
- FRACTAL_PERIODS: Number of candles used to find peaks and troughs
- SHOW_TABLE: Toggle information table display
- SHOW_LABEL: Toggle divergence labels
Summary
This indicator combines visual cues with analytical data to highlight market reversal points. By integrating divergence signals with supporting statistics, it helps traders make informed entry and exit decisions.