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Originally Posted by Thruline
I'd suggest building a trendline break into the entry. You also should be able to name the minimum bars you require between highs or lows in price to control the scale of the divergences you want to track. Otherwise, you have an indicator firing off unprofitable signals. Another consideration is to look at higher time frame trend as a filter.
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Thanks for the suggestions.
1. Threndline break. That's not currently part of my rules, but, I'll consider it for the future.
2. Minimum Bars Between Highs or Lows. This is currently set via a user input named Bars4CorrelationScan. I have it set by default to 36 which I've found works well with GBPUSD at M15.
3. Higher Time Fram filter. Yes. Have considered this. For now, everything is operating off of the chart's time frame.
Cheers
Bill