This thread is for those who use trendline and divergence strategies in their trading. If you have any indicators that show divergence on RSI, MACD etc please post, any EAs that trade using divergences or trendline s are welcome. I suggest we also share screen shots on trendline breaks and trendlines on indicators. Please post something credible that will help us all. I am working on a divergence EA which I hope to release once complete. Let this be a development thread.
Standard Risk Disclosure that you should know by now: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
I have these two: https://www.mql5.com/en/forum
For some reason I cannot attach screenhunter screen shots. Help!
You can not attach as an image.
Attach as attachment.
As normal file.
EURUSD test. I think I had the wrong format before. Good to see your post Alex.
Trendline Break-RSI on EURUSD
EurUsd reversed to the upside on hitting the lower trendline, a break of the uppertrendline will result in the prices continuing uptrend. RSI though shows a divergence in its troughs and there there is a chance that we may see prices moving lower. There needs to be a bounce on the upper trendline and a break of the lower trendline for a short entry to be confirmed.
Upper Tl Broken
There was a break of the uppertrendline and a long entry triggered.
If the lower Trendline is broken then a breakout lower will result. Notice the 65 Pip move from the Williams signal, 42 Pip move of the RSI signal. This reversal was easy to spot with the divergence in williams.
And what does CCI say?
Violation as expected.