MACD Divergences Scanner MT5

What is MACD Divergences Scanner MT5

The MACD Divergences Scanner for MetaTrader 5 (MT5) is a powerful tool designed to identify divergences between price movements and the MACD (Moving Average Convergence Divergence) indicator. It scans multiple symbols and timeframes, providing traders with insights into potential reversals in the market.

Key Features

• Detects both regular (classic) and hidden divergences for accurate trend analysis.
• Capabilities to scan multiple symbols simultaneously, simplifying the trader's workflow.
• Integrates with support and resistance levels to enhance signal reliability.
• Visual and audio alerts for timely notifications, ensuring traders do not miss critical price movements. 📈
• Customizable dashboard settings allow users to tailor the tool to their trading style.

How It Works

The scanner functions by continuously monitoring price charts against the MACD indicator. When divergences are detected, it tracks:

• The number of candles since a divergence appeared.
• The number of trend waves leading to the identified divergence.
• Clickable table cells that allow users to view corresponding support and resistance zones directly on the price chart.

Divergence Types

The MACD Divergences Scanner identifies two main types of divergences:

• Regular Divergences: Indicates potential reversals where price action and MACD signals diverge.
• Hidden Divergences: Suggests trend continuation where the price makes a new high or low that is not confirmed by the MACD.
🌟

Why Use MACD Divergences Scanner

By integrating MACD divergence analysis with other technical analysis tools like price action and candlestick patterns, traders can enhance their decision-making process. This scanner enables traders to efficiently locate trading opportunities without being chained to their monitors.

Conclusion on Effectiveness

The MACD Divergences Scanner is an essential tool for traders looking to capitalize on market movements. Its ability to provide clear signals for potential reversals, combined with alerts and a user-friendly interface, makes it an invaluable asset in a trader's toolkit. Whether you're a novice or seasoned pro, this scanner can streamline your trading strategy and improve your results. 🚀