Multi oscillator divergence EA
This multi oscillator Expert Advisor identifies when a divergence occurs between price and an oscillator. It identifies both regular/classical (trend reversal) and hidden (trend continuation) divergences. It has RSI, Pin bar and Engulfing filter options which makes it possible to filter out only the strongest setups.
Due to the numerous amount of settings the Expert Advisor is mainly aimed for the intermediate to advanced trader who already has a deeper experience with or understanding in divergence trading and risk management.
Please also note that I do not provide with any trading advices, signals or further maintenance of the existing preset files.
Please check out my other divergence products:
- Can detect divergences for the following oscillators: MACD, OsMA (Moving average of Oscillator), Stochastic, RSI, CCI, RVI and Awesome. Only one oscillator can be selected.
- Possibility to close half position selecting from different strategies.
- 2 moving averages with different periods can be enabled as a trend filter. For instance MA 200 and MA 21.
- Spread and slippage filter.
- Averaging down function (the EA complies with NFA FIFO regulations when using the correct settings. Please see the blog.)
It is recommended to trade a portfolio of minimum 6 symbols at the same time to reduce risk as much as possible. Please also make sure that you first test the EA on a demo account and let at least 20 trades be done. You could use the M1 time frame for this purpose.
Please always perform proper back testing of your setup in the Strategy tester.
Please find the description and explanation of the input parameters here.
1) stop trade on all pairs if the accumulated floating profit is less than xx% compared with the account balance
2) added support for NFA FIFO regulations (must be when using averaging down)
3) added the possibility to show an on chart information panel when using the averaging down function
- added the possibility to use minutes as well in the time filters
- it is now possible to use separate RSI levels for hidden divergences
- the parameter 'Wait for candle close' has been replaced with Candle shift
- Added support for opening a trade only in case the divergence also appears on a higher time frame.
- added possibility for trailing step
- added possibility to close half position at support/resistance, pivot point, ATR level or pin bar
- added Risk/reward logic
- added support for double divergence
- added combo box for stop loss methods
- added parameter checkup when loading the EA