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Bar Strength Divergence indicator for MT4

What is the Bar Strength Divergence Indicator?

  • The Bar Strength Divergence Indicator for MT4 is a specialized tool designed for analyzing Forex, Stocks, Indices, Futures, Commodities, and Cryptos.💹
  • This indicator assesses the strength of each candle and highlights divergences between the actual price movements on the main chart and those indicated in its separate window.
  • It uses two price levels to demonstrate support and resistance, helping traders predict potential market reversals.

    • How Does It Work?

  • The Bar Strength indicator displays the strength of candles in relation to specific resistance and support levels.
  • When candles approach the resistance level, it indicates a strong probability of a price reversal downward.
  • Conversely, when candles approach the support level, it suggests a likely price movement upward.
  • Traders can easily identify divergences between price and the Bar Strength indicator, allowing them to enhance trading decisions.

    • Key Features

  • Maximum customizability with an input parameter named MaxBars, allowing control over the number of candles displayed.
  • Compatibility across various asset classes and time frames, making it incredibly versatile for all trading strategies.
  • Ability to combine with other oscillators like Stochastic or RSI for greater confirmation of signals.

    • Using the Indicator Effectively

  • Monitor the indicators for signals, especially during periods when the candles are near resistance or support levels.
  • Utilize divergences as key entry or exit points in trading strategies, aiming for periods of consolidation or trend reversals.
  • Alerts can be customized, allowing traders to stay informed even when not actively monitoring the market.📈

    • User Reception and Effectiveness

  • The Bar Strength Divergence Indicator boasts a rating of 5.0, indicating strong user satisfaction and effectiveness in enhancing trading performance.
  • Many users appreciate its non-repainting nature, which ensures reliability during live trading sessions.
  • It's particularly favored for being intuitive and visually comprehensive, making it accessible for both novice and experienced traders.

    • Let's face it, trading can sometimes feel like you're trying to find a needle in a haystack while blindfolded, right? Introducing the Bar Strength Divergence Indicator for MT4 – it's like having a pair of x-ray goggles to see through that hay! Designed by Renaud Herve Francois ...

    Release Date: 13/03/2022

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