The MetaTrader 4 and 5 platforms come with one of the most popular indicators known to traders – MACD. FFx MACD Divergences build upon the already integrated indicator in the MT4 platform, extending the functionality especially useful for divergence strategy traders. This paid indicator is published on 4th July 2014 on the MQL5 repository and since then has no received much attention. The latest version has not changed since the initial placement and remains at 1.0. The author of this extension tool is Eric Venturi-Bloxs from Thailand. This author has no less than 52 products on the mql5.com, a good portion of that is free.
Overview
This extension indicator is simple. It adds hidden and classic divergences on the MACD averages and displays it in a single window for multiple timeframes. This way, traders that rely on trade filters based on higher timeframe divergences can have a glance if there is one. The display will show as many timeframes you set in the settings in multiple small subwindows. The addon on the tool is very simple but original and useful for the followers of the divergence strategies.
The settings available allows traders to set timeframes from M1 to Monthly, set the number of bars for each timeframe window, set alerts on various conditions, change colors, and so on.
Service Cost
The price of this simple and useful indicator is $10 for 5 activations and there is also a demo. The price is not high given the rarity of such tools.
Conclusion
User ratings are 5 starts but based on only 3 reviews since 2014. Still, it should be understood that this tool targets specific traders. One of the reviews perfectly describes how FFx MACD Divergences can be used:
“Woooooow!! love it! I trade low TF signals based on H4+Daily Divergence. Now when my indicator gives me a buy signal on e.g. M15 then I immediately see if there is higher TF divergence or not on the same chart. Trade Yes or No? Decision takes one second now. Thank you for this great tool and the cheap price Eric!”
The author developed similar small useful gadgets for other trading styles.
This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/4900
