What is the All In One Divergence Indicator for MT4?

The All In One Divergence Indicator is a powerful tool for analyzing the divergences in a given market. The indicator provides an easy-to-understand graphical representation of the strength and direction of these divergences, providing valuable insight into potential price movement. Patrick Chovanec created the hand in 2015, often called the ‘Chove’ indicator or the ‘Chove’ divergence.

All In One Divergence Indicator

Download the Free All In One Divergence Indicator

The All In One Divergence Indicator works by plotting two lines on a chart – one line representing the price of a particular asset and the other line representing the value of a related asset (i.e., the indicator plots a divergence between two purchases). As with any indicator, there are different ways to set up and use this tool. Generally speaking, you can use it to identify divergences in a given market that may indicate possible future price movements. It can be used to confirm previous analyses or to help identify new trends and opportunities.

How to use the All In One Divergence Indicator for MT4?

Using the All In One Divergence Indicator for MT4 is a great way to identify divergences in the forex market. It gives you a visual representation of how one currency’s price may differ from another. The indicator is based on two other indicators that can be used to measure the strength of divergence between two currencies:

The first indicator measures the distance between the prices of two currencies by looking at their value differences. This is known as their “divergence.” The second indicator measures how far apart the prices are from each other, known as their “distance” or “lagging power.” The arrow shows a meaningful divergence and when it may continue or reverse.

All In One Divergence Indicator MT4 trading settings

The forex All-In-One Divergence Indicator can be set up using different settings, depending on the implemented trading strategy. For example, it can be used as part of a long-term buy-and-hold strategy by setting the indicator to show positive divergences while holding an asset. On the other hand, it can also be used as part of a short-term trade by imposing the arrow to show negative variations while owning an asset.

Forex All In One Divergence Indicator is a powerful tool for traders looking to identify possible turning points in the market. Setting up the indicator correctly and monitoring its signals closely is essential to execute trades based on them successfully.

All-In-One Divergence Indicator Advantages

The advantages of this indicator include its versatility and ease of use. It can be used in various market conditions, including short-term trends, long-term trends, and volatile markets. Additionally, the indicator is available for multiple financial assets, making it suitable for any trader or investor.

The All In One Divergence Indicator is a powerful and effective indicator used to identify divergences in the price of an asset.

All-In-One Divergence Indicator Disadvantages

– It is a one-trick pony, meaning it only tells you one thing (i.e., divergence) and cannot be used as a standalone tool. It must be combined with other indicators to provide more complete and accurate information about the market.

– The indicator has limited value for identifying short-term price movements (such as those occurring within a day or week). Because it is based on historical data, it can only accurately predict future direction if the underlying factors driving the current trends persist.

– Some traders may find the indicator challenging to understand and use effectively. This can result in poor execution of trades and losses due to poor trade management skills or incorrect decision-making based on false assumptions about market direction.

IOD Indicator installation on MT4

To install the All In One Divergence Indicator on MT4, you can follow these steps:

  1. Download the indicator file from a reputable source and save it on your computer.
  2. Open the MT4 platform and click “File” in the top left corner of the screen.
  3. Select “Open Data Folder” from the drop-down menu. This will open a new window that displays the MT4 files on your computer.
  4. Navigate to the “MQL4” folder, select “Indicators,” and copy the downloaded All In One Divergence Indicator file to this folder.
  5. Restart the MT4 platform. The indicator should appear in the “Navigator” window under the “Indicators” section.
  6. To apply the All In One Divergence Indicator to a chart, drag and drop it onto the chart from the “Navigator” window. You can customize the indicator’s settings by double-clicking on it in the chart or the “Navigator” window.

All In One Divergence Indicator mt4

All In One Divergence Indicator mt4 free download


The All In One Divergence Indicator is a valuable tool for trading and can be used to identify potential market trends. However, it has limited value for analyzing short-term price movements and may not be easy to use or understand. Therefore, traders should take care when using this indicator and ensure proper trade management.

Author: Dominic Walsh

I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Linkedin | Youtube| Twitter | Pinterest | Medium | Telegram Channel | Quora | Reddit

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