SMT Divergences multiple symbol for MT5

SMT Divergences multiple symbol for MT5

ICT SMT divergence represent a situation in the market where two correlated assets, being seen within the same timeframe, exhibit opposing structure. This can be seen in two positively correlated assets, as one asset forming a higher low, while the other forming a lower low instead of higher low.

Version 1.03: Add Higher TF support

An ICT SMT divergence serves as the primary signal of reversal for correlated assets. If two positively correlated assets are moving higher and at a point one makes a higher high while the other asset fails to make a higher. This shows the higher high formed in one asset is just to deceive traders and the overall market condition is weak which indicates the turning point of these assets.

You can use the ICT SMT divergence between two correlated assets as a confirmation of trade entry when they tap the higher timeframe ICT PD Array. Figure 3 is example when GU and EU have  divergence. In this case, "smart money" make EU to higher high to take sell stoploss. We can anticipate that EU will going lower.

This indicator is better than other because it allow user define which divergence symbol to check. User can set up to 2 symbol (not that you have to typo exactly symbol name (include suffix) - which show in market watch. Some broker add suffix into symbol name)

Figure 1 is how indicator show in your chart

Settings: (figure 2)

+ Symbol name (include suffix)

+ Use symbol 2 ? If yes, indicator will scan both of symbol to check divergences with main symbol

+ Symbol 2 name

+ Lookback

+ Style

+ Notifications