Here's the indicator in action, displaying Regular/Classical MACD Divergences:
(Click on Image to enlarge)
And here it is displaying Hidden Divergences:
(Click on Image to enlarge)
Once you add the indicator to a chart, you get the Parameters Dialog Box. Go to the Inputs tab to configure the parameters. There are essentially three sections. The first one is related to the MACD Settings (default values are 12, 26, 9 but you can change them).
slowEMA: Period length of evaluation of the slow Exponential Moving Average component of the MACD indicator.
signalSMA: Period length of evaluation of the signal Simple Moving Average component of the MACD indicator.
The second session of parameters is related to the interface. That is, what you want the indicator to display, and whether you want to be alerted, via a Pop Up message box, Sound, Mobile notification, Email, when a new divergence is confirmed. There are also some other properties that you can use to specify whether you are only interested in Classic divergences or Hidden ones.
drawIndicatorTrendLines: Whether you want lines to be displayed on the Indicator panel when divergences are detected.
drawPriceTrendLines: Whether you want lines to be displayed on the price action chart when divergences are detected.
displayPopUpAlert: true or false depending on whether you want an alert dialog inside Metatrader to be displayed when a new crossover is confirmed.
displaySoundAlert: true or false depending on whether you want a sound alert to be played when a new crossover is confirmed.
soundAlertFile:The sound file to be played if displaySoundAlert is set to true. The file must be located in the /Sounds/ directory of your MetaTrader installation folder.
sendMobileAlert: true or false depending on whether you want to receive notifications in your mobile device (Android, iPhone, iPad) when an alert is issued by the indicator. Your device must be configured in MT4 via Tools -> Options -> Notifications. For more information visit this guide.
Finally the Email Settings section:
The indicator has its own implementation of an email sender engine. That means, it doesn't use the built in engine of Metatrader, but its own. The reason for that is in order to be able to send emails with attachments (chart screen shots) and also to provide users with the ability to have email alerts sent to popular public email servers such as Gmail, Yahoo, Hotmail, GMX, etc. Those two features cannot be accomplished with Metatrader's email sender.
server: The public SMTP server of your email provider. smtp.gmail.com is used by default.
user: your complete email address
pass: your password
port: The Port open on your SMTP server of choice. For Gmail it is 465.
sendChartScreenShot: when set to true it will attach an image of the chart to the email alert.
I hope this indicator becomes useful in your trading, and that you can benefit from it.
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