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Tuesday, September 25, 2012

Momentum Divergence Indicator for Metatrader

The Momentum Divergence indicator displays the traditional Momentum indicator panel with the addition of both Regular and Hidden divergences that are also reflected on the price action chart. The indicator sends alerts via email (with attached screenshot of the chart), via mobile notification to your mobile device (Android, iPhone, iPad), and additionally pop up message and/or sound alerts in the Metatrader platform. That’s four different ways to alert the user. The period of the Momentum Indicator as well as the colors can be customized.

Here's a screen shot of the Momentum Divergence indicator in action displaying Regular Divergences:
(Click on Image to enlarge)

And here it is displaying Hidden Divergences:
(Click on image to enlarge)
This indicator was built for the Metatrader platform. What makes it unique is its ability to alert the user via sound alarm, pop up message, mobile notification and email with screen shot of the chart attached.

Once you add the indicator to a chart, you get the Parameters Dialog Box. Go to the Inputs tab to configure the parameters.

a-) Momentum Settings

period: Period length of evaluation of the Momentum Indicator

b-) Interface Settings 

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

c-) Email Settings
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. Those two features cannot be accomplished with Metatrader's email sender.

sendEmailAlert: Whether or not you want the indicator to send email alerts when a signal is triggered.

server: The public SMTP server of your email provider. 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.

Momentum Divergence Indicator $13.00

It is a one time payment only and you can use the indicator indefinitely in as many Metatrader accounts as you want. As part of the purchase you receive a pdf guide with clear step by step instructions on how to install the indicator and how to set up the parameters. If you have any problem with the indicator feel free to contact me at

For more indicators and tools visit the Products page

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