Sharing the RSI divergence indicator. To prevent abuse, it will auto-expire at the end of the year.
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RSI_Divergence.ex4
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DislikedSharing the RSI divergence indicator. To prevent abuse, it will auto-expire at the end of the year. {file}Ignored
Disliked{quote} Very nice wilyno thank you. Only comment I can make is when drawing the lines then the indicator should be looking for the first occurrence of a div. In the chart below the red dashed lines were drawn by the indicator and it was seemingly looking for peaks. However, to identify a continuation divergence in the 1H chart I've labeled the bars with RSI14 values in yellow. The reference peak was 44.55 but the first time price was lower and rsi higher was the bar labeled 46.01 and not the bar labeled 47.54. Ideally then the red-dashed lines should...Ignored
DislikedAny trade taken yet? I see M5 upmove now is more than 30 pips but I can't take because no div observed on M5 or M1 as entriesIgnored
Disliked{quote} Very nice wilyno thank you. Only comment I can make is when drawing the lines then the indicator should be looking for the first occurrence of a div. In the chart below the red dashed lines were drawn by the indicator and it was seemingly looking for peaks. However, to identify a continuation divergence in the 1H chart I've labeled the bars with RSI14 values in yellow. The reference peak was 44.55 but the first time price was lower and rsi higher was the bar labeled 46.01 and not the bar labeled 47.54. Ideally then the red-dashed lines should...Ignored
Disliked{quote} I was in a short trade and didn't pay much attention cos I had to think about other stuff. Reason for the short was: H1 and H4 same charts as what I posted yesterday. H4 in fact bullish MA patterns but H1 not that convincing. M5 price was at the MA swing high and I didn't expect it could make a HH. M5 regular bearish divergence there. {image}Ignored
Disliked{quote} Hi Jazz, I enter short too, but SL hits. I wanted to hedge in the middle of the trade but my broker not allow to do so. Is it must hedge to maximize the profit? (I'm sorry if this question was answer before, maybe I missed out the answer) I think I didn't get out in a proper spot or maybe my SL problem, still practicing. Did you enter too? Would you mind to share what's the result? Sorry if too many question. Thanks in advanced. __DreammakerIgnored
Disliked{quote} Hi dreammaker, imho you don't have to hedge to be profitable. Hedging helps to get your open profit safe in case you see a divergence reason that puts risk on the profit. If you can't hedge, just exit the trade. Eventually get in again later on a better price. I didn't hedge myself today because, as mentioned, I wasn't watching the trade as soon as it was safe. Feel free to shoot a pic of your trades and post it here. I guess Alan or somebody else is sure willing to help.Ignored