Multi-Symbol Price Divergence Analysis with a Chart Indicator
Summary
The document describes an MQL5 chart indicator for comparing price movements across the current instrument and five user-selected symbols. It displays raw prices as lines, bars, or candlesticks and lets users choose where the series should be aligned: at a draggable vertical line or at the start of a month, week, day, or hour. Optional inversion flips selected symbol series, which can make currency pairs with a shared currency easier to compare visually.
The implementation covers multi-color indicator buffers, chart event handling, object and chart management, and adjustment of chart highs and lows to the visible indicator values. Screenshots illustrate the tool on a weekly EURUSD chart and an M30 chart with selected USD pairs inverted. The article presents this as a visual analysis aid rather than a tested trading strategy; it provides no performance evidence or rules for acting on observed divergences.
Key ideas
- The indicator overlays price data from multiple symbols for visual divergence analysis.
- Users can align series at a selected chart time or at recurring calendar intervals.
- Inverting a symbol can make price comparisons clearer when the same currency appears on opposite sides of pairs.
- Separate buffers and chart event handlers support multiple drawing styles and interactive chart updates.
- The article demonstrates chart configurations but does not evaluate a trading strategy or its profitability.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.