Summary of "📥 Hidden SMT Divergence Indicator for MT4&5 – Free Download – [TFlab]"
The video presents a detailed tutorial and guide on the Hidden SMT Divergence Indicator designed for ICT (Inner Circle Trader) style trading, available for MetaTrader 4 and MetaTrader 5 platforms. The indicator can be downloaded from the Trading Finder website.
Key Technological Concepts and Features:
- Purpose: The indicator helps traders identify hidden SMT (Smart Money Technique) divergences by comparing the price trends of three highly correlated symbols simultaneously.
- Supported Symbols: Primarily designed for US indices — Dow Jones (DJI), S&P 500, and NASDAQ — but users can input any three correlated symbols depending on their broker’s symbol naming conventions.
- Setup Instructions:
- Download the indicator file and apply it via the Navigator section in MT4/MT5.
- Enable "Allow DLL Imports" in the command section.
- Input the exact symbol names matching the broker’s format for the three correlated symbols.
- Use the correlation function to automatically add the additional symbols.
- Functionality:
- The indicator detects divergences where two symbols trend similarly (bullish or bearish) but the third behaves differently, signaling potential trend reversals.
- Divergences are visually represented by trend lines colored blue for high trend lines and red for low trend lines.
- The indicator supports switching timeframes dynamically, allowing users to spot divergences across different time scales.
- User Interface:
- Input section allows symbol customization and toggling the display of hidden SMT divergences.
- Confirmation button applies changes instantly.
- Practical Example: The video demonstrates divergence detection on November 20-21 for Dow Jones, S&P 500, and NASDAQ, showing bullish and bearish hidden SMT divergences clearly on the chart.
Analysis and Use Case:
- The indicator is a specialized tool for ICT traders to perform multi-symbol analysis for more nuanced trend and divergence detection.
- It simplifies the identification of hidden divergences, which can be used as signals for trend reversals.
- The tutorial emphasizes the importance of correct symbol input and broker-specific naming conventions for proper functionality.
Review and Tutorial Highlights:
- Step-by-step guide on downloading, installing, and configuring the indicator.
- Explanation of how to interpret the divergence signals and trend lines.
- Encouragement for user feedback and interaction via comments.
Main Speaker/Source:
- The tutorial is presented by TFlab, the developer or promoter of the Hidden SMT Divergence Indicator, focusing on ICT-style trading tools.
Category
Technology
