If you're looking to up your trading game, this Divergence EA is a game changer! It comes loaded with alerts and arrows to make your trading smoother.
This EA takes a buy position when:
- MACD divergence pops up on a 5-minute timeframe
- The 1-hour stochastic's main line is above the signal line and sits comfortably between the 0-40 levels
- The daily exponential moving average (EMA) of 9 is above the 20 EMA
- A 5-minute bar closes below the 9 EMA on the daily chart (input 18)
It wraps up trades based on stop-losses and targets, or if the RSI (7-period) climbs above the 77 overbought threshold (input 36).
For sell trades, just reverse the conditions!
This setup might yield fewer trades with the default settings, so it's wise to backtest on 1-minute data for at least 4 years.
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