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Can someone make a divergence candle indicator 6 replies

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EASY H1 trading using divergence and candle sticks

Quoting ZieG
The things i don't really understand is how do you know that divergence has taken place or not?

and what are the entry and exit rule??
ZieG,

You know there is divergence when the price moves one way and the oscillator, in this case the RSI moves the other way... In the chart below, look at the orange line. See how the price made a higher high and formed a pinbar (not so perfect but close enough to demo purposes) and RSI made a lower high? That is Divergence. So now you have a pinbar candle signalling possible reversal and at the same time you have RSI making a lower high, also signalling reversal. Also, RSI was above the 70 level and headed downward. So this is the setup we are looking for. Now we set a pending order Short a few pips below the low of the pinbar. SL is a few pips above the pinbar, and TP1 is equla to SL or nearest reistance/support level. That is all there is to it ... Very simple
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Quoting Eureka
Very nice system. Seems to be a descent amount of setups.

Which pairs are you watching?

Thanks for sharing this. :-)

Carol

Hope you find this system useful Carol.


Normally I watch the majors plus eurjpy and gbpjpy.
Thanks.

sorry kamugi ... is that I am entering the forum, which is why you had not read

for you friend
Attached Files
File Type: mq4 TriangularMA centered abands alerts 2.mq4   9 KB | 638 downloads
File Type: mq4 Swing_ZZ.mq4   11 KB | 576 downloads
File Type: mq4 ZigZag.mq4   6 KB | 477 downloads
File Type: tpl zz 2012.tpl   11 KB | 535 downloads
This pair is now around previous support level. We may get a setup here so keep an eye on this pair for the next H1 bar to see what she does
Watching.........
Quoting PurePrice
This pair is now around previous support level. We may get a setup here so keep an eye on this pair for the next H1 bar to see what she does
LONG trade triggred as we had a bullish englufing candle right at previous support, which gives us a "triple A" setup
Attached Image (click to enlarge)
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Quoting PurePrice
LONG trade triggred as we had a bullish englufing candle right at previous support, which gives us a "triple A" setup

We need AU to get above 10457 (previous minor support now turned minor resistance) and it is lunch hour in NY. IT may be slow moving until these things occur keeping fingers crossed
Quoting porfirio
sorry kamugi ... is that I am entering the forum, which is why you had not read

for you friend
Thank you so much! for taking the time.. I'm greatly appreciate it sir! thank you!





If you have to make a mistake, make sure it is a new mistake
Thank you for showing this way of trading.
For the people having problems to identify divergence, maybe this might help.
Install the RSI indicator and after that install the divPeak indicator in the rsi windows.
Attached Image (click to enlarge)
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Attached Files
File Type: mq4 ind_DivPeakTroughRSI_SW_v1.mq4   11 KB | 825 downloads
File Type: mq4 ind_RSIColored_v1.mq4   5 KB | 760 downloads
To get more profit, not the entry but the exit will make the big difference
Quoting PurePrice
We need AU to get above 10457 (previous minor support now turned minor resistance) and it is lunch hour in NY. IT may be slow moving until these things occur keeping fingers crossed

Well it is almost closing of NY session, and just now, we are back at 1.0457. As expected, this price level did present a bit of challange and caused the price to drop about 20 pips from there down to 1.0437 or so. However, it bouncing back now and it has been very very slow as it was just at NY lunch time that the trade was triggered and as expected, market really slows down after that point in time. So, as it stands now, this trade is at +10 pips for me, but it is soo painfully slow moving
Quoting PurePrice
Well it is almost closing of NY session, and just now, we are back at 1.0457. As expected, this price level did present a bit of challange and caused the price to drop about 20 pips from there down to 1.0437 or so. However, it bouncing back now and it has been very very slow as it was just at NY lunch time that the trade was triggered and as expected, market really slows down after that point in time. So, as it stands now, this trade is at +10 pips for me, but it is soo painfully slow moving

This trade is now +30 pips for a TP1. SL moved to BE on remainder and TP2 would be 1.0495 just shy of the 1.0500 round number
How we know that price won't go down more? ( for AUDUSD ). Should we wait for bulish candle for next candle?
  • jayjb
    Joined Jul 2011
Divergence trading is actually one of the most basic trading method out there, but sadly few people know its powers. I've been using nothing but OsMA, fibs, trendlines on h4 and daily with success for the past 10 months.

Beats MA anyday.

It also helps you to build some market sense. In what ways? U'll have to find it out yourself.
Good Morning @ all,

ahh, missed this small Setup for some early pips...

E/U H1:

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Regards...

Chriss
Hi pureprice,
nice and clean method.. thanks for sharing!

Beauty of 2b pattern with divergence into demand zone,
forming right now on aussie..

all the b
chriz
Attached Image (click to enlarge)
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Hi Pure Price,

Thank you for a such a simple system. One of the few systems that worked as soon as I tried it.

I tried it Yesterday on EurJpy and it worked like a charm.

Thank you RPV for your indicators, I did not use them yet, but will try them.

Pure Price, Is this okay to also try it on daily charts?

thanks
what do you think sir Pure price?

thank you so much!

If you have to make a mistake, make sure it is a new mistake
Quoting forexnubie
Hi Pure Price,

Thank you for a such a simple system. One of the few systems that worked as soon as I tried it.

I tried it Yesterday on EurJpy and it worked like a charm.

Thank you RPV for your indicators, I did not use them yet, but will try them.

Pure Price, Is this okay to also try it on daily charts?

thanks

I am glad you feel that way.

This works on daily as well, of course if you have the patience and ability to withstand a large StopLoss. Daily is likely even better than H1 because you filter out all the intraday noise, and you dont need to watch the charts during the day, which is perfect for someone working fulltime job and wants to trade.
Quoting Komugi
what do you think sir Pure price?

thank you so much!


This is done perfectly
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