Indicator for strategy that was used in a Forex competition and was a winner. Use double MACD with custom settings, search video on YouTube:
Learn Five Powerful MACD Trading Strategies
Add some tools to analyze the market context a little more:
- Detector of regular and hidden divergences. - Atlas Zone (detects consolidation that is about to generate a movement) - Choppines zone configurable (detects if the market is stable or not)
Visualization of entries in trend and counter-trend according to the rules described in the video. Buy and sell alerts.
Note: I do not recommend using only this indicator as an investment strategy, it is another tool that must be complemented with a market study by the trader.
@ghoXt3333, It's in the Indicator's description. Search on Youtube for "Learn Five Powerful MACD Trading Strategies". The channel name is "Your Trade Mentor".
Fomogo
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Hi, offset set to "-2" on plotshape function, seems to indicate this divergence indicator is repainting (thus divergences don't appear when candle closes but it appears after another two candles closes). Am I correct?
Dreadblitz
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@Fomogo, Hello, the divergence is correct 2 candles appear later, the confirmation of new maximum or minimum is required to generate the divergence
Fomogo
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@Dreadblitz, Thanks for your reply! This indicator is not useful then. Divergences are used to predict that the next candle after the peak will go up/down. If you get the signal only after two candles, it's already too late. Any idea on how to correct this?
Dreadblitz
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@Fomogo, Hello, personally I do not like to use divergence as an input signal, only to detect possible areas of change, and then position it by means of price action, but it is a personal opinion, I will try to find a way to detect the last candle greetings
dhman2012
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@Dreadblitz, Hello, just wondering if you were able to implement this change. Thanks
mitchaspinall
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@Fomogo, did you you every figure out how to correct the change?