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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.
Hi everyone.
this indicator is great.fx5 uses "osma" indicator to find divergance and you can modify the indicator with other indicators for finding divergance.for example I used "RSI_X2" indicator for finding divergance.I attached "RSI_X2" and the related indicator that I have modified.
Thanks for forwarding these indicators. They are great. I wonder if I could request some mods for it?
RSI_Divergence does ok now, But I have a few suggestions to consider for this indicator:
I wonder if you could have it plot divergence only between fractul points?
Also, there are some places where a reverse divergence and a regular divergence come together at the same point. I have attached a chart showing this example. These double points of divergence are paticularly good for trades. (Illistrated by the fat white line)
Would it also be possible to plot regular divergence and reverse divergence with different lines?
There are also many places where divergences get missed. Perhaps you know why this is. (Illistrated by the two skinny white lines)
One last thought would be to have it work on weighted close. I understand that this is more accurate.
As mentioned before, your mod is great. Thanks for sharing. I do not mean to be demanding with these suggestions. I just think there are still some changes to consider. If you, or anybody out there is interested, I belive that it would be a great indicator.
Hi everyone.
this indicator is great.fx5 uses "osma" indicator to find divergance and you can modify the indicator with other indicators for finding divergance.for example I used "RSI_X2" indicator for finding divergance.I attached "RSI_X2" and the related indicator that I have modified.
Dear pghiaci,
The RSIvar is nice. if possible, can you modify its visual. I don't like the draw line. I tried to code it but impossible because I am not real coder. Please make it red bar if RSIvar below 50 and blue bar if RSIvar above 50 in separate window.
Stephen,
It seems is the best indicator I had ever used.
Plis tell me what is your best aplication of it?, I don't know if is correct what I am doing, I use [M30], and SHI_CHANNEL_TRUE to see the trend, and always go inside in the trend direction when your indicator change the colour, is it correct?, or I have wait the arrow?
My email is robssini@yahoo.com.ar plis, sent me more information, I beleive in trade looking the divergence.
Best regards,
Ricardo
Quote:
Originally Posted by Stephen
Hi Daniel,
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.
Hi everyone.
this indicator is great.fx5 uses "osma" indicator to find divergance and you can modify the indicator with other indicators for finding divergance.for example I used "RSI_X2" indicator for finding divergance.I attached "RSI_X2" and the related indicator that I have modified.
Congratulations,
I am using it, it seems it's very good, congratulations again, tell me what form you use it???
Tks
Ricardo
Thanks for forwarding these indicators. They are great. I wonder if I could request some mods for it?
RSI_Divergence does ok now, But I have a few suggestions to consider for this indicator:
I wonder if you could have it plot divergence only between fractul points?
Also, there are some places where a reverse divergence and a regular divergence come together at the same point. I have attached a chart showing this example. These double points of divergence are paticularly good for trades. (Illistrated by the fat white line)
Would it also be possible to plot regular divergence and reverse divergence with different lines?
There are also many places where divergences get missed. Perhaps you know why this is. (Illistrated by the two skinny white lines)
One last thought would be to have it work on weighted close. I understand that this is more accurate.
As mentioned before, your mod is great. Thanks for sharing. I do not mean to be demanding with these suggestions. I just think there are still some changes to consider. If you, or anybody out there is interested, I belive that it would be a great indicator.
Thanks, Stephen
Hi Stephen
about "regular divergence and reverse divergence with different lines" I will work on it for you but it seems to be defficalt but I think that will be ok.
and about missing some divergances I must say that this indicator uses RSI_X2 with period=7 for finding divergace and it is different from regular RSI.
if you want I can modify it for you with regular RSI.
and obout "weighted close" mode I have attached the indicator that works with "weighted close".
I think it would be use full if I attach the indicator that works with regular RSI.
Divergence mods?
Best new thread
Linear Mode
