Summary of "📊 Knoxville Divergence Indicator MT4/5 Download – Free – [TradingFinder]"

Knax View Divergence Indicator Overview

The video introduces the Knax View Divergence Indicator, a free tool available for MetaTrader 4 and MetaTrader 5 platforms via the TradingFinder website. This indicator helps traders identify and display price divergences between the RSI (Relative Strength Index) and momentum indicators on trading charts, assisting in confirming potential trade entries.

Key Features and Functionality

The indicator does not generate explicit buy or sell signals; instead, it highlights divergences between price action and RSI/momentum indicators.
Traders can use these divergences as confirmations to enter trades either after a price pullback or immediately when a divergence occurs.
Supports identification of various types of divergences between momentum and price.

Settings and Customization

Maximum candles to analyze: Default set at 1,000 candles.
Momentum indicator inputs:
- Calculation period.
- Basis for calculation selectable among: close, open, high, low, median, typical, and weighted prices.
RSI indicator inputs:
- Calculation period.
- Basis for calculation (same options as momentum).
- Overbought level threshold.
- Oversold level threshold.

These inputs allow traders to tailor the indicator to their specific strategy and market conditions.

Use Case

The indicator helps traders identify divergence-based trade setups by confirming momentum and RSI signals against price movements. It is suitable for traders who use divergence as part of their technical analysis framework but want to maintain discretion over actual trade execution.

Disclaimers

The indicator is a tool for analysis only and does not provide direct trading signals. Users should apply their own trading strategy and risk management.

Applicability

No specific tickers, sectors, or asset classes were mentioned, indicating the indicator is broadly applicable across markets supported by MetaTrader platforms.

Presenter/Source: TradingFinder (Knax View Divergence Indicator tutorial)