Multi oscillator divergence EA MT5
Please if possible consider the paid version which I will continue to develop (there will be no future updates for this free version).
This Expert Advisor identifies when a divergence occurs between price and an oscillator/indicator. It identifies both regular/classical (trend reversal) and hidden (trend continuation) divergences. It has RSI, bollinger, stochastics, moving average and ADX filter options which makes it possible to filter out only the strongest setups. The default settings are optimized for EURUSD H1 (backtested 2015.01.01 - 2022.12.16, 243 trades, which means 0,7 trades in average per week).
- Can detect divergences for the following oscillators/indicators: MACD, OsMA (Moving average of Oscillator), Stochastic, CCI and RSI. All oscillators/indicators can be selected for concurrent divergences (occuring simultaneously) or any of them for multi divergence trading. It is also possible to trade single divergence using a specific oscillator/indicator.
- Possibility to close half position selecting from different strategies.
- 2 moving averages with different periods can be enabled as a trend filter. For instance by using slow MA 200 and fast MA 12 for hidden divergences.
- Spread and time filters.
- Possibility to use percentage of ADR (average daily range) for stop loss, take profit, trailing stop and close half position.
Please find the description and explanation of the input parameters here.
Please make sure that you first do you own back testing in the strategy tester. When you have found a profitable setup then test the EA on a demo account and let at least 10 trades be done before deciding if to go live.
I am happy to provide free products but given my limited time, I will not be able to provide with trading advices, optimal settings, signals, set (preset) files or strategy testing. My apologies. I will only be able to answer questions regarding the meaning of the input parameters, in case something should be unclear in the product's blog.
The EA cannot be used with netting account types and does not work on renko or range charts.