FX5_MACD_Divergence - MQL4 Code Base

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Name:

FX5_MACD_Divergence

Author:

FX5 (2007.06.14 11:29)

Rating:

8.7

Downloaded:

36092

Download:

FX5_MACD_Divergence_V1.1.mq4 (12.4 Kb) View

FX5_MACD_Divergence_V1.0.mq4 (12.1 Kb) View

After the success of the original indicator, I decided to write more indicators for detecting divergence between price and other indicator.

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.

I hope you gets the most benedfit from this indicator.

Changes to verion 1.1:

- This version is directed to traders who do not want repainted singals. The signals are not repainted buy they are delayed one candle.

26 comments: 1 2 3 To post a new comment, please log in or register

5star

06.08.2011 21:34 leospartain

ooh, the R:R ratio for an EA based on this would be GOLDEN. I'm looking at this on a EURUSD H1 and doing some manual backtesting... looks to give 150+pips (on 5digit) for most of its signals, usually more -- but the beauty is that the stop loss never has to be much greater than the previous bar's high/low. Break-even of 150, trailing stop of 250, target of 400 or so... i will DEFINITELY automate this when i have time.

lookin forward to it.

08.02.2011 20:52 alexboyd

good, better & best!

FX5 is great!!!

18.12.2010 21:06 thomas_c

Was an EA developed/posted for the FX5 macd divergence?

25.11.2010 14:38 gifog

c0deZ:

so, has anyone made an ea for this strategy?

i'd like to test it, or if someone seen an ea for macd divergence would u point me in the right direction.

The best way to trade macd divergence is to do it using multiple timeframes. Start with highest timeframe where divergence is present and then go down the timeframes waiting for all timeframes to line up and enter. To exit use the timeframe you entered with to exit when macd turns or goes flat.

01.09.2010 18:36 rjn682

so, has anyone made an ea for this strategy?

i'd like to test it, or if someone seen an ea for macd divergence would u point me in the right direction.

23.07.2010 09:38 c0deZ

This is beautiful! I have been using divergence manually with excellent success, but never could figure out how to make an EA that uses it. Now that there is an indicator that appears to work like I have been using it, I can now build an EA. I will post the EA this evening and we can test it. Does anyone have any suggestions as to what is better...MACD, momentum (is what I use manually), or as mentioned above...DMI?

07.05.2010 02:41 PIPWatcher

Very good indicator. Is there anything on RSI like this.

21.07.2009 10:41 1007

Nice indi, thanks!!

21.04.2009 21:59 cyberpasta

FX5 wrote:

ashishbhatia wrote:

hi...i am using the indicator for sometime now, could you tell me which timeframe its best used on, i check all the timeframes, but find 5 mins comfortable. Also, there are some hidden signals given, which are not the classic MACD divergence, how relaible are those, would apprectiate your reply.

thanks

I prefer using it on higher timeframes. In my openion 4Hr is the best timeframe for this indicator.

Regarding your second question, I heard that some traders trade only hidden divergens so it reliable as the classical divergence.

Good Luck,

Hi FX5

Thanks for your indicator.

Can you write this indicator in Tradestation or Metastock code?

regards,

02.01.2009 11:49 crlin1212