5 min divergence method
(chart further down in thread)
This is part Imran's system and part the guy who wrote this CCI div indicator. (I don't know his name but it's a great indicator - if it scrambles on load, just change time frames. It works fine on all TF's)
1. Add a 100, -100, 0, 200, -200 to CCI divergence indicator
2. Add ASCtrend_imran arrow indicator
3. Add a 20, 60, 200 ema to chart
4. If the 20 is below the 60 and you get bear divergence above 100 on the CCI indicator...enter on break of candle when Imran ASCTrend arrow pops up. Ignore all bull divergence arrows and bull asctrend arrows after the divergence arrives!!!! It may take 1 hr or so on the 5 min chart before the ASCTrend arrow arrives. Vise versa when the 20 is above the 60.
5. Make sure the 60 ema is pointed down. But, the best trades are when it may be starting to turn for the 20/60 cross. Let me know if you can identify this better then the just the turn. That's usually the biggest pip generator.
Let me clarify. Enter when it breaks by a few pips. Sometimes it takes a while because when the ASCTrend arrow pops up, the price may be dancing between the 20/60 ema. It may test the arrow candle a few times. You'll save yourself the grief of waiting it out. I've had it go 18 pips before falling.
Stop loss 20 pips + spread.
The cliff notes: Short: 20 below 60 ema, Divergence above 100 in
CCI, wait for the bear ASCtrend arrow and it may be a bit, Ignore all bull arrows, enter on a good break of arrow candle, 20 + spread SL, 5 min chart.
Opposite for long. Monitor it...sometimes you'll get a few...sometimes 60-70 pips.
I posted a chart further down.
P.S. Try loading ten charts with just the divergence indicator. Shrink them all down. Set them on 30 minute or 1 hr TF. When the alarm goes off, drop down to the 5 min and wait for the signs.
It takes 10 minutes to back test. If you try it let me now what your win ratio is. Also, I'll give you a way to get the secondary leg after the retrace. Not quite as simple but it gets you in when the 60 is turned up and there isn't a asctrend arrow.
(chart further down in thread)
This is part Imran's system and part the guy who wrote this CCI div indicator. (I don't know his name but it's a great indicator - if it scrambles on load, just change time frames. It works fine on all TF's)
1. Add a 100, -100, 0, 200, -200 to CCI divergence indicator
2. Add ASCtrend_imran arrow indicator
3. Add a 20, 60, 200 ema to chart
4. If the 20 is below the 60 and you get bear divergence above 100 on the CCI indicator...enter on break of candle when Imran ASCTrend arrow pops up. Ignore all bull divergence arrows and bull asctrend arrows after the divergence arrives!!!! It may take 1 hr or so on the 5 min chart before the ASCTrend arrow arrives. Vise versa when the 20 is above the 60.
5. Make sure the 60 ema is pointed down. But, the best trades are when it may be starting to turn for the 20/60 cross. Let me know if you can identify this better then the just the turn. That's usually the biggest pip generator.
Let me clarify. Enter when it breaks by a few pips. Sometimes it takes a while because when the ASCTrend arrow pops up, the price may be dancing between the 20/60 ema. It may test the arrow candle a few times. You'll save yourself the grief of waiting it out. I've had it go 18 pips before falling.
Stop loss 20 pips + spread.
The cliff notes: Short: 20 below 60 ema, Divergence above 100 in
CCI, wait for the bear ASCtrend arrow and it may be a bit, Ignore all bull arrows, enter on a good break of arrow candle, 20 + spread SL, 5 min chart.
Opposite for long. Monitor it...sometimes you'll get a few...sometimes 60-70 pips.
I posted a chart further down.
P.S. Try loading ten charts with just the divergence indicator. Shrink them all down. Set them on 30 minute or 1 hr TF. When the alarm goes off, drop down to the 5 min and wait for the signs.
It takes 10 minutes to back test. If you try it let me now what your win ratio is. Also, I'll give you a way to get the secondary leg after the retrace. Not quite as simple but it gets you in when the 60 is turned up and there isn't a asctrend arrow.
Attached File(s)
ASCTrend1sig-imran.ex4
5 KB
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1,537 downloads
CCI_Divergence_V1.1.mq4
12 KB
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1,625 downloads