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Pair Divergence Method

  • #361
  • Jun 26, 2009 9:28pm Jun 26, 2009 9:28pm
Ronaldrosim,

The usd/jpy-eur/jpy only shows 2.3 at the moment on mataf not above 80 so how is that positive correlation ? or am i not reading it right.

Eco.
Enter Signature
  • #362
  • Jun 27, 2009 1:16am Jun 27, 2009 1:16am
Just found this overlay chart indi.
Maybe you guys can put it to good use as an indicator.
You cna choose to mirror the pair or not.
Attached Image (click to enlarge)
Click to Enlarge Name: w.gif Size: 17 KB
Attached File(s)
File Type: mq4 OverLayChart.mq4   9 KB | 521 downloads
Starting to see instead of just looking.
  • #363
  • Jun 29, 2009 7:06pm Jun 29, 2009 7:06pm
I am a newbie, and after how many hours of tinkering, I was able to set up the nice template by pippaFett (http://www.forexfactory.com/showpost...&postcount=299)

Kindly see if my evaluation is correct?

EURUSD yellow
USDCHF magenta
1h timeframe


http://img23.imageshack.us/img23/992...divergence.jpg


Right after the first divergence (marked line red lines) of EU having a LH and UC giving a HH, we should wait for a confirmation on the next candle for a BUY on USDCHF right?

But on the next candle, it does confirm a BUY on UC, but it showed another divergence going opposite direction?

What should I do?



Please help.
  • #364
  • Jun 29, 2009 7:11pm Jun 29, 2009 7:11pm
Quoting pippaFett
Hey team,

I've packaged up my template, indicators, and a PDF explaining their use. Here's a screen shot.

@billbss,

Thanks for a nice method. Too bad the thread seems not to be as active?


@pippFett,

Is it possible to make the template more flexible, by making it editable and applicable to other pairs too?

Thanks.
  • #365
  • Jun 29, 2009 7:15pm Jun 29, 2009 7:15pm
Quoting iamnoel
I am a newbie, and after how many hours of tinkering, I was able to set up the nice template by pippaFett (http://www.forexfactory.com/showpost...&postcount=299)

Kindly see if my evaluation is correct?

EURUSD yellow
USDCHF magenta
1h timeframe


http://img23.imageshack.us/img23/992...divergence.jpg


Right after the first divergence (marked line red lines) of EU having a LH and UC giving a HH, we should wait for a confirmation on the next candle for a BUY on USDCHF right?

But on the next candle, it does confirm...
You should reverse your position.
  • #366
  • Jun 29, 2009 7:25pm Jun 29, 2009 7:25pm
Thanks billbss for the quick reply.

Some more questions please.

So when we see the reversal, we should wait for another hour when the candle will close? Then we buy at the open of the next candle?

Just in case we did not notice the reversal signal, and opened trade, we should close it immediately right? And wait for a confirmation at the close of the next candle again.

As it is, as the close of the candle, it showed a reversal, and signalled a BUY for EU. Only then will we open a trade for BUY for EU correct?

Oh, btw, even if the 1h timeframe ONLY shows this divergence, it is ok to enter the market? How about if it shows ONLY on 15m, 30m? Should we enter the market too?


Can someone be able to make an EA please, that will do the following, when it is turned ON:
1. open a trade at the open of the next candle
2. BUY/SELL can be speciified
3. can be attached to any currency chart and will enter the trade
4. will turn off by itself after the trade was made.

I think this will complete this method very well.



.
  • #367
  • Jun 30, 2009 12:45am Jun 30, 2009 12:45am
Quoting ECO
Ronaldrosim,

The usd/jpy-eur/jpy only shows 2.3 at the moment on mataf not above 80 so how is that positive correlation ? or am i not reading it right.

Eco.
corrrelation at M15
  • #368
  • Jun 30, 2009 3:10pm Jun 30, 2009 3:10pm
Interesting to see the experimenting going on. I'll tinker with the indicator to make it more flexible and work with other pairs.
  • #369
  • Jun 30, 2009 3:13pm Jun 30, 2009 3:13pm
Quoting pippaFett
Interesting to see the experimenting going on. I'll tinker with the indicator to make it more flexible and work with other pairs.
Can you reduce the size of the arrows on your indicator?
I can't see the price lines because of their size.
  • #370
  • Jul 13, 2009 1:23pm Jul 13, 2009 1:23pm
billbs, if you still here comment this trade today on AUDJPY. This trade was a loss.

http://img517.imageshack.us/img517/4028/ajuj.jpg

byt the time i took this trade correlation was about 99%


thanks in advance
  • #371
  • Jul 13, 2009 1:42pm Jul 13, 2009 1:42pm
Quoting giraia_br
billbs, if you still here comment this trade today on AUDJPY. This trade was a loss.

http://img517.imageshack.us/img517/4028/ajuj.jpg

byt the time i took this trade correlation was about 99%


thanks in advance
I've never traded that pair and I don't know anything about it.

The red horizontal line does not mark a trade I would have taken. There isn't a divergence there that meets the rules.
  • #372
  • Jul 13, 2009 1:51pm Jul 13, 2009 1:51pm
thansk bilbs.

please share recent trades whenever possible.


best regards.
  • #373
  • Jul 13, 2009 6:48pm Jul 13, 2009 6:48pm
and i took this trade (agua, UJ short now) too. Wrong again?

http://img194.imageshack.us/img194/7463/ajuj2.jpg
  • #374
  • Jul 13, 2009 8:27pm Jul 13, 2009 8:27pm
Quoting giraia_br
billbs, if you still here comment this trade today on AUDJPY. This trade was a loss.



byt the time i took this trade correlation was about 99%


thanks in advance
although u use two pairs that have not been tried before here, the principle shld be the same; yr analysis is not wrong, it just didnt work for this arrangement. i think it worth investigating why. i had another pair that didnt work at all ie eurjpy and gbpjpy.
  • #375
  • Jul 13, 2009 9:19pm Jul 13, 2009 9:19pm
thanks Ronaldo.

do you still trading only 5 min? There are more trades today?
  • #376
  • Jul 13, 2009 9:22pm Jul 13, 2009 9:22pm
Quoting giraia_br
and i took this trade (agua, UJ short now) too. Wrong again?

http://img194.imageshack.us/img194/7463/ajuj2.jpg

I wouldn't have taken it. It has a wave in the middle.
You need clean peaks and valleys without anything in between.
  • #377
  • Jul 13, 2009 10:22pm Jul 13, 2009 10:22pm
Quoting giraia_br
thanks Ronaldo.

do you still trading only 5 min? There are more trades today?
No, I am using 15 mins timeframe for eurusd/usdchf, eurjpy/gbpjpy and usdjpy/eurjpy;
I am also trying out H4 for eurusd/usdchf

so far the worst performer is eurjpy/gbpjpy
  • #378
  • Jul 13, 2009 10:23pm Jul 13, 2009 10:23pm
Quoting billbss
I wouldn't have taken it. It has a wave in the middle.
You need clean peaks and valleys without anything in between.
Bill/ this is new info ; thks alot
  • #379
  • Jul 14, 2009 4:22am Jul 14, 2009 4:22am
Quoting ronaldosim
Bill/ this is new info ; thks alot
ronaldosim,

Could you post some of your trades with the chart so we can see what it looked like?

Thanks.

Bruce
  • #380
  • Jul 14, 2009 4:19pm Jul 14, 2009 4:19pm
Quoting billbss
I wouldn't have taken it. It has a wave in the middle.
You need clean peaks and valleys without anything in between.
i can understand this for the first setup (red) for the second (aqua)all i can see if the previous top is lower on AJ and higher on UJ.
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