PZ Divergence can use a broad range of indicators to spot divergences on a chart. Its dev claims that the system provides stop loss and take profit levels for each position. The indicator uses different colors to spot visible and hidden divergences to make it easy for traders. Our article will discuss all the features of the algorithm and discuss whether it is a good choice for your trading.
PZ Divergence: characteristics
After purchasing the indicator from MQL 5 marketplace, traders have to log in to the community on their MT 5 platform. Then you need to download it and place it on the respective charts to begin trading. Do not forget to enable the auto-trading button.
Arturo Lopez Perez is the author of the product who resides in Andorra and has more than seven years of experience, according to the MQl 5 marketplace. He has a rating of 3.9 for a total of 1114 reviews. The developer has published 179 products and has 23 subscribers for his profile.
Let’s talk about the key features of this Forex indicator:
- It supports a range of different oscillators that can be loaded in the charts at the same time
- It displays suitable stop loss and take profit for each position
- It is possible to filter divergence by size in the bar
- It can provide alerts to your mobile phone
- It comes with a multi-symbol and multi-timeframe scanner
Currency pairs, strategy, and time frame
The indicator can work on all currency pairs. It implements the divergence strategy where it suggests possible reversal points. Divergence is when an oscillator makes higher highs and lows while the price action is the opposite, i.e., lower highs and lows. This calls for a u-turn in the market direction. The developer suggests using H4 and above time frames to use PZ Divergence Trading.
PZ Divergence trading performance
Live trading results are available on Myfxbook, which shows performance from June 27, 2021, till the current date. Since then, the robot has had an average monthly gain of 34.28%, with a peak drawdown of 24.78%. The drawdown percentage states that while trading, there was a 25% loss in the trading capital. There were 31 trades in total, with an average holding time of 1 day. The expert advisor trades with a winning rate of 65% and a profit factor of 2.02. The best trade was $6.85, while the worst one was -$5.1.
The trading history at Myfxbook shows that the indicator provides trades on multiple currency pairs. All the positions come with a stop loss and take profit. Depending on the situation positions can be held for a day or more.
How much does it cost
The indicator is available for an asking price of $299. There is no money-back guarantee at MQL 5 marketplace due to the website policy. However, if you purchase it for the MT 4 platform from the developers’ website, there is a seven-day money-back guarantee.
Reviews from customers
Customer reviews are available on the Forex Peace Army for Point Zero trading, which gives the company a total of 4.495 for 107 reviews. Customers complain that the developer is not providing full refunds. They also state that he is rebranding others indicators.
Should you use PZ Divergence Trading?
PZ Divergence is not suitable for traders who have little experience in the market. The indicator also has a high drawdown value which can affect the psychology of many traders. Therefore it is not profitable to use the indicator.
- Available on the MQL 5 market place which is a reputable place
- The developer does not backtest the indicator with simulators
- Suitable only for traders with good trading experience
- You have to place the trades manually
PZ Divergence would require traders to stay glued to their charts for finding profitable opportunities. It does not have a winning rate of 90%, which is a false claim by the developer. It would be better if you invest your capital elsewhere.