[FREE DOWNLOAD] RSI Divergence Indicator for MT4
RSI Divergence indicator automatically spots bullish and bearish divergences between price action and the Relative Strength Index (RSI).
When the indicator finds that price is making a higher high while RSI prints a lower high (or vice-versa) it draws a colored trend-line directly on both the RSI sub-window and the main price chart, then fires an on-screen alert (and/or e-mail) so you never miss a potential reversal again.
Key Features
- Auto-scan for regular & hidden divergences on any time-frame
- Visual lines on both price and RSI sub-window
- Colored arrows (green = bullish, orange = bearish)
- Pop-up, sound & e-mail alerts (toggle on/off)
- No DLLs, no external files – single .ex4 file, drag-and-drop installation
- Lightweight code – zero slowdown, works on old PCs / VPSs
How to Install (30 seconds)
- Download the RSI_Divergence.ex4 file below.
- Open MT4 → File → Open Data Folder → MQL4 → Indicators.
- Copy the .ex4 file into the Indicators folder.
- Restart MT4 (or right-click Indicators in Navigator → Refresh).
- Drag “RSI Divergence” onto any chart; set your colors & alerts → OK.
- Done! The indicator starts scanning immediately and will print new divergences in real-time.
Who Is It For?
- Price-action & swing traders looking for high-probability reversal zones
- Intraday scalpers who want confirmation before fading momentum spikes
- Forex, indices, gold, crypto traders – works on every MT4 symbol & time-frame
- Newbies – no manual line drawing, the indicator does everything visually
Quick Trading Guide (Not Financial Advice)
- Wait for a bullish divergence near oversold (RSI < 30) → consider long.
- Wait for a bearish divergence near overbought (RSI > 70) → consider short.
- Combine with horizontal support/resistance or candlestick patterns for extra confluence.
- Place stop slightly below/above the last swing; target next structure or 1:2 RR.
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