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what is the best indicator for detecting divergance???
i use stochastic indicators and andrews pitchfork for confirmation
you can use what indicator you want but i like old one not custom indicators
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The way I understood how to use divergence is between fractual points. And to only use revese divergence. The way to identify reverse divergence is that when it plots a line on the chart, the lines that start near the zero line and move outward from right to left is the reverse divergence. I will only trade it in the direction of the prevailing trend. This indicator draws lines between peaks and troughs, but I think it may be better to measure between fractual points. Or at least use them for confirmation.
On the attached chart, I have marked some divergence points that are all reverse divergence. several of them are not in the direction of the trend and result in bad trades. But the ones that are in the direction of the trend, useally work out. .
Pghiaci, I wonder if you could attach a chart showing how you use RSI_X2? I appreciate your sharing this indicator, but I am a little uncertain how you use it.
European, thanks for the video, and the indicator. Perhaps one thing that i am missing from my strategy is that the oscillator should be overbought or oversold by a certain degree to make a signal more valid. This video shows this.
I can see the potential of divergence. I am still developing my strategy, so I am greatful for all the comments so far. Keep em coming!
The FX5 indicator is good, but I've noticed that the arrow will appear out of nowhere by at least one bar prior. So when backtesting it looks amazing, but actually, the buy/sell arrows will appear late, and it seems as though you've missed the trade.
Here is a picture and indicator that shows reverse divergence. The FX5 indicator plots both regular div. and reverse div. As you are reading the indicator from left to right, the lines drawn on the indicator that start high and come down (move inward) to the "0" line are regular divergence. The lines that start low and move away from the "0" line (outward) are reverse divergence.
This indicator uses OsMA to determine divergence. I suppose it could be changed to use CCI.
It seems best on the 4hr or d1 chart. I confirm with RSI before the trade. I only trade revese divergence.
This is a great indicator that could be even better. I have some thoughts for it if anyone is interested.
Linear Mode
