Point zero trading has developed the PZ Divergence Indicator. The goal of this Forex indicator was to find the divergences in the market on auto mode. The algorithm supports multiple financial indicators and can indicate hidden and regular divergences. It is available for both MT4 and MT5.
The company fails to give us the knowledge of the developers of the indicator. We fail to find any good information on the experience and whereabouts of the programmers. On MQL 5, we could find the following information. Arturo Lopez Perez is the author of the product who resided in Andorra. He has a total rating of 3.9 for 1122 reviews. The developer has 179 products published on the MQL 5 marketplace and has 23 subscribers for his services. He has over 7 years of experience in the market.
PZ Divergence at a glance
|Trading Platforms||MT4 and 5|
|Timeframe||H4 and above|
PZ Divergence functionality
The indicator has the following features:
- It comes with multiple settings that can be tweaked according to the traders choice
- The indicator repaints itself to accomplish its function
- Finds regulars and hidden divergences and supports other oscillators
- Provides an option to filter divergences by size in bars
The indicator has many settings that include the periods’ option for the oscillator. Traders can also tweak the colors of the divergences according to their liking.
PZ Divergence trading strategy tests
The indicator sports divergences on the charts. Divergence is when the market is making higher highs and lows while the oscillators are doing the opposite, i.e., lowers highs and lows. PZ Divergence also utilizes the Donchinian breakout to confirm the divergence before giving out any signal.
There are no backtesting results available as the program is an indicator. However, the developer could use a forex simulator to test out the algorithm for historical data and share the results through a detailed statement. Lack of historical testing means that the programmers are inexperienced with simulator software or do not want to provide backtesting results due to poor output.
What about PZ Divergence real trading results
Real trading results are tracked via Myfxbook, which shows performance from June 27, 2021, till Aug 09, 2021. Since then, the indicator has had an average monthly gain of 29.70%, with a drawdown of 24.78%. There were 33 trades in total, with 0.33 lots traded. The indicator had traded with a winning rate of 64% with a profit factor of 1.97. The best trade was $6.85, while the worst one was -$5.10. EURUSD, USDJPY, and GBPUSD pairs were utilized for trading with an average holding duration of one day.
Customer reviews are available on Forex Peace Army, which gives the algorithm a rating of 4.495 for 107 feedback. Customers state that the author is not responsive enough to answer all their inquiries. They also say that the developer is renaming other people’s products and selling them.
PZ Divergence Review SummaryPZ Divergence
Functionality4/5 GoodThe robot works on MT4 and 5.
Trading strategy3/5 NeutralThe developer fails to disclose the strategy properly.
Live Results4/5 GoodLive results show an average performance.
Customer support3/5 NeutralNo information is available on customer support.
User reviews2/5 BadCustomer reviews state that the developer is copying other algorithms.
- It comes with verified trading records
- Customers state that the results are poor
- The price is high
- The indicators repaint itself