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Hello increase ,
I noticed you made a pretty good attempt at helping y09ster and so now, I found a similar indicator with divergence lines (if its placed in the first indicator window). I'm hoping you can tell me how to program this one to give alert with sound at its best deviation as well?
Thanks again, richard
Hi Bratt, thanks for posting this indicator, looks pretty good.
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On the indicator Netto uses in his methods- it appears as one indicator. How you can get only one output is beyond me. Maybe an average- in the formula it looks like one maybe subtracted from the other. I have no idea- I am not that skilled in programming etc..
It is from John Netto's book- One Shot One Kill Trading
He uses it for DIVERGENCE trading much like the applications mentioned in this thread. He found that after looking at hundreds of different indicators- he found that this indicator worked the best.
Netto mentions that it is a RSI 13 period with a RSI 3 period
the Metastock formula is:
RSI(13)+Mov(RSI(3),3,S
I hope that somebody has seen this indicator for MT4, or is kind enough to create for a non-programmer etc..
Ty-in advance, Matt Rippy
There's no need to create an indicator - just drop a RSI period 3 inbuilt indicator on top of a period 13 (or viceversa). Problem is, the resulting indicator is pretty incoherent, no tradable divergences that I can see...
I searched a lot and never found one for MT4. None of the ones referenced by others in this thread really does the job. So, I developed strict rules and hired a programmer to build one for me. It's still being worked on, but, the results so far are encouraging. See the attached screen shot for two awesome divergence trades today.
I prefer CCI as it tends to deliver cleaner and quicker signals. Of course, it delivers false ones as well, but, that's where having clear exit rules helps.
I suppose if there were a few people willing to contribute toward my cost for getting this thing developed (which currently is $500), I'd consider making it available to the community along with my rules.
Of course, after the indicator is complete, work will begin on the EA which is also based on a very strict set of rules. Divulging that would take a bit more coaxing!
Cheers
Bill
Hi Bill,
Have you developed the divergence indicator , yet? Could you post some pictures to see how it works ? I work with USD/CAD and it will be better to see the indicator on this chart. H1, H4, D1, W1
I'm looking for the MACD, Stochastic and RSI divergence indicators, but was not able to find them of get a working version. Could anybody tell me were I could find them?
I'm looking for the MACD, Stochastic and RSI divergence indicators, but was not able to find them of get a working version. Could anybody tell me were I could find them?
Is anybody interested in the coding of a divergence indicator ?
I would like to have an indicator which analyses the price and an indicator like MACD or Stochastic and returns 1 if bullish divergence, 0 if nothing and -1if bearish divergence (for example). I want to detect the case when the price is making a new high/low, but the indicator is not.
Also, as soon as the indicator has gone to the other side (for example if Stochastic was overbought and showed a bearish divergence, and then went down crossing 50 or reached the oversold level) the divergence indicator should not say that there is still a bearish divergence.
How could I code it? Using zigzag?
What are the value returned by a zigzag indicator at a given time? Does it return the last pick/though value?
Don’t even bother looking at an indicator unless ONE of these four price scenarios have occurred. If not, you ain’t trading divergence buddy. You just imagining things. Immediately go see your optometrist and get some new glasses. "
"This indicator will plot divergence lines on the MACD indicator and will give buy and sell signal by displaying green and red arrows. It also has a built-in alert function. As the original indicator, bullish divergence is plotted in green lines while bearish divergence is plotted in red. If the divergence is classic the line will be solid and if the type is reversed the line will be interrupted."
Linear Mode
