If you're looking to elevate your trading game, the Divergence Expert Advisor (EA) for MetaTrader 4 is a tool you won’t want to miss. This EA utilizes signals from the DivergenceViewer indicator, but the best part? You don’t even need to have the indicator installed in your terminal folder!
The EA is designed to open trades when it identifies a divergence of a specific class. The Stop Loss is strategically placed behind the local extremum reached during the divergence formation period, adjusted by the "Offset for Stop Loss, pts." parameter. Meanwhile, the Take Profit level is based on the distance between the opening price and the Stop Loss, which you can tweak using the "Ratio of the TP size to SL" setting.
To ensure the EA detects divergences accurately, you’ll need to specify the number of bars required for the base indicator calculations in the "Start bars count" parameter. For instance, if you're using the William Blau base indicator with parameters set to 8000, make sure your chart has at least 8000 bars available.
For a deep dive into the functionality of this EA and comprehensive test results, check out our detailed article on The Divergence Expert Advisor.
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