Awesome Oscillator Divergence Indicator: Extremes Only

Written by Dominic Walsh · Published 28 May 2026 · Last updated 18 Sep 2026

The awesome oscillator divergence indicator takes a shortcut. It does not pair confirmed pivots. Instead it holds the current bar against the extreme of the last thirty. Then it checks whether the reading agrees.

This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.

Platforms	MT4 (.ex4) + MT5 (.ex5)
Chart window	Main price chart
Plots	2: Bull divergence, Bear divergence
Alerts	popup, push notification, email, sound
Inputs	8

What the Awesome Oscillator Divergence Indicator shows

Two arrow plots, nothing more.

`Bull divergence` uses arrow 233 in lime.

`Bear divergence` uses arrow 234 in red.

Marks sit `ArrowOffsetPoints` `30` points off the bar.

Buy marks hang below the low and sell marks above the high.

The pane stays empty, because no line buffer is declared.

• Bull divergence: arrow, lime, width 3, arrow code 233
• Bear divergence: arrow, red, width 3, arrow code 234

From price to plot

The window

One search, two prices. `DivLookback` `30` finds the lowest low and the highest high across those bars, starting one bar back. Those two are the only comparison points.

The disagreement

Price and reading must part ways. A bullish mark needs the current low under that window low. The reading must sit higher than it did there. The bearish case mirrors it.

No pivot wait

Nothing confirms. Marks appear at once rather than five bars late. It also means the extreme need not be a real swing.

What each colour means

Marks arrive with no delay at all.

The comparison point is a window extreme, not a pivot.

Thirty bars keeps the comparison local.

The reading itself never gets plotted.

Two marks close together usually describe the same stretch of price.

Read each one against the trend you can see on the chart.

Alert channels in this build: popup, push notification, email and sound, one message per closed bar.

`EnableAlerts` controls every divergence alert and starts true with `EnablePopup`. `EnablePushNotify` buzzes a phone, `EnableEmail` sends mail and `EnableSound` plays a cue. Those three arrive off.

Every Awesome Oscillator Divergence Indicator input

Core settings

Setting	What it does	Default
DivLookback	Bars the search covers, `30`.	30

Display settings

Setting	What it does	Default
ArrowOffsetPoints	Points from mark to bar, `30`.	30

Alert settings

Setting	What it does	Default
EnableAlerts	Master switch, `true`.	on
EnablePopup	Box in the terminal, `true`.	on
EnablePushNotify	Buzz on a phone, `false`.	off
EnableEmail	Mail on a mark, `false`.	off
EnableSound	Cue on a mark, `false`.	off
SoundFile	Which clip plays, `”alert.wav”`.	alert.wav

Which chart to load it on

A thirty-bar window stays fairly local. EURUSD H1 is the reference chart. It covers a day and a bit there. On M5 the marks come often. H4 spans a week and gives far fewer.

The catch

A window extreme is not a swing.

Marks print without confirmation, so one can look wrong later.

You cannot check the comparison by eye.

A strong trend produces marks against it for hours.

Copy the compiled Awesome Oscillator Divergence Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.

Download the Awesome Oscillator Divergence Indicator for MT4 and MT5

The zip holds the compiled Awesome Oscillator Divergence Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.

FAQ

How does DivLookback 30 pick its comparison point?

It searches thirty bars, starting one back, for the lowest low and the highest high. Those two prices are what the current bar gets weighed against, swing or not.

Why does DivLookback confirm so quickly?

Nothing waits for bars on the far side of a pivot. The test uses a window extreme that is known already. So a mark can print on the bar itself rather than five bars later.

What does DivLookback give up for that speed?

Reliability. A window extreme can be a bar in the middle of a move rather than a turn. Some marks therefore carry no structural meaning, even when the sums check out.

Why is the oscillator itself not plotted?

The build declares only the two arrow buffers. That keeps the chart clean, but it means you cannot look at the reading to see the split the tool claims to have found.

Are results guaranteed?

No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Awesome Oscillator Divergence Indicator as one input. Always backtest before trading live.