Theory :
The original was posted here : MACD Slope Divergence. This version is extended in a couple of things :
- possible channels background color is added. to avoid drawing channel back color, simply set the color to none (see second example)
- multi time frame support added. apart from the standard time frames supported by the metatrader 5, you have 3 “special” time frames :
- next higher time frame (first time frame higher than the current chart time frame)
- second higher time frame (second time frame higher than the current chart time frame)
- third higher time frame (third time frame higher than the current chart time frame)
Usage :
It can be used for divergences detection
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