Point taken. Had I actually been trading these, I think this euro sell would have taken me out of the 1500 hours trade at break even.
Hindsight is 20/20
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DislikedHow about this euro sell? It looks strange. Would it be a no-trade because the pairs didn't mimick each other one-for-one? I.e. U/C bar to bar went lower, higher, higher, where as E/U went lower lower higher?Ignored
DislikedHi there Bill,
I followed along when you first started with this thread but got distracted with one of my 9000 other projects....Ignored
DislikedOK, so divergences with extra wiggles in between are fair game then as long as there are prominent swing lows and highs.
A couple of observations: The EA in the thread seems interesting but I think it may filter out valid tradable divergences. Also the original OverLayChartLINE.mq4 indicator seems to be better at scaling among the various time frames than the Overlay.ex4 indicator.Ignored
DislikedThat will be a trade, but the entrance bar hasn't completed yet.
Your chart doesn't look right. How do you have the EURUSD line graph set up?Ignored
DislikedAll I did was change the chart type to line. Was there something else in the chart properties?
Also, the rightmost peaks in my divergences were complete and I waited for price action to start moving in my direction. Should I have waited for the next bar to complete as well?Ignored
DislikedYes. You should have waited for the next bar to complete. At least that's how I do it. Do whatever works for you.
On the chart- put a simple MA - 1 period- Typical price.
Go to options and set the color of the line chart to "None".
Now when you switch to "Line" only the MA will be there representing the EURUSD.Ignored
DislikedOK, the chart is set up like yours. Actually the raw price line and the 1 period MA look almost the same.
So just to clarify. If I get two closed bars that show divergence, I wait for the next bar after that to close. If it closes in my direction, then I enter. Correct?
The way I played it was to wait until price moved in my direction but I didn't wait for the bar to close. Once I'm in the trade I manage it pretty actively but moving the stop to technical turning points as things unfold.Ignored