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bearishDivergence[currentPeak] = rsi[currentPeak] + arrowsDisplacement; bearishpriceDivergence[currentPeak] = High[currentPeak] + arrowsDisplacement; Any help on this would be great. Share ideas, debate tactics, and swap war stories with forex traders from around the world.
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How effective any indicator is at showing Divergence depends on the settings you are going to use, if you are going to use default settings then you are wasting your time. The default settings were great when the indicator was invented but market dynamics have changed. Here are 3 stalwarts, Stochastic, MACD and RSI.
What is a divergence in trading Forex divergence is defined as a case when the price of an asset is moving in the opposite direction of a technical indicator, such as an oscillator. For example, the asset price is moving up, but the oscillator line is moving in the opposite direction. The opposite ... (full story) Comments. Subscribe. Comment 1.
You cannot Alert for divergence before it has been established. RSI is well known to give several small divergences before the price turns, 3 to 4 divergences can often happen before the real divergence occurs which is why this indicator is coded the way it is with a 2 bar delay.
This is trading divergence between two highly correlated pairs. I use the daily correlation chart. The chart below shows the EUR/JPY and the GBP/JPY, together. Basically, if one pair makes a lower low and the other does not, you buy the one that does not. If one pair makes a higher high and the other does not, sell the pair that does not.
with the hidden divergence. we want as many confluences as possible to support the bearish view. 1. higher time frame m30 broken and tested trend line. m5 can also be seen by the downward sloping trend line. 2. m5 hidden divergence with rsi broken trend line. 3. m5 closed trade entries around tested support turned resistant.
Trading divergence can become a Leading Indicator. 1. Wait Price (Chart) for the following pattern: Higher High, Lower Low. 2. See the indicator. When it showed the opposite direction of the following chart pattern then it is divergence. And we should use the MACD histogram, because histogram is easy to read.
But 'hidden divergence' is actually a fallacy. There are a lot of experienced traders on here that will tell you the same. You're trying to convert a 'variable' into a 'constant' and it can't possibly be done. Will you be right sometimes - definitely. But it will be no better than a coin flip with a 50/50 probability.
About the strategy: EA trades when a divergence is found (bullish or bearish), EA will hide Stoploss and Take profit. The EA can also trail the profits hidden to the broker, and close it automatically when trailing hits. Eeh? EA - Osoi Kame V7 All Time Profit: $2,340.