OBV Divergence Indicator Download for MT4 – Free | Forex Indicator Download – MetaTrader 4 Resource

The OBV Divergence Indicator is a useful tool in MetaTrader 4 for identifying divergences between price and volume in technical analysis .

This trading tool is based on the Balance Volume (OBV) indicator and displays the OBV difference on the chart using green and red lines.

OBV Divergence Indicator Specification Table

The following table lists the specifications of the OBV Divergence indicator:

OBV Divergence Indicator at a Glance

In addition to displaying divergences as lines, the OBV Divergence Indicator also plots a table on the chart that contains additional information related to the divergence, including:

• Divergence Type: Divergence type (bullish or bearish)
• Exist: Use a positive or negative sign to indicate the existence of divergence
• Consecutive: number of consecutive divergences
• Quality: measures the strength and quality of divergence
• Change Phase: Displays trend phase changes

Note: This information is analyzed only for the current difference.

Bullish trend conditions (positive divergence)

In the 1-hour chart example of the NZD/USD currency pair, the indicator uses a green line to show existing divergence. As shown in the chart, after a bullish divergence formed, the price moved higher and turned bullish.

Additionally, in the upper left corner of the image, the indicator provides traders with supplementary data in the form of a table.

Bearish trend conditions (negative divergence)

According to the USD/CHF chart, the price reversed and turned bearish after the indicator plotted a negative divergence.

Additionally, the table of the OBV Divergence indicator shows supplementary information about the current market. divergence .

OBV Divergence Indicator Settings

The settings of the OBV Divergence indicator are as follows:

• FRACTAL_PERIODS: Number of reference candles used to identify peaks and troughs
• SHOW_TABEL: Show or hide the information table
• SHOW_LABEL: Show different labels

Conclusion

The OBV Divergence indicator identifies divergences using a combination of visual and analytical data to plot potential trend reversal points.

Additionally, the trading tool includes a table showing supplementary information such as divergence type, number of consecutive divergences, etc.