I know price/indicator divergence indicators are available on platforms such as TradeStation and Trade Navigator. However, I'm looking for a reliable price divergence indicator for Metatrader 4.
Specifically, I'd like to track divergence between price and CCI. One scenario is represented in the attached chart showing examples on GBPUSD M15. Here I'm looking at what Elder refers to as type A divergence when price and the indicator have opposing peaks/valleys.
Is anyone aware of a decent divergence indicator for MT4? Coding one myself is currently a little bit beyond my programming capabilities.
Once I get and adapt the indicator, I'd be happy to start a thread in the Trading Systems section discussing in detail rules for this system.
Thanks in advance for any pointers regarding said indicator.
Cheers
Bill
Specifically, I'd like to track divergence between price and CCI. One scenario is represented in the attached chart showing examples on GBPUSD M15. Here I'm looking at what Elder refers to as type A divergence when price and the indicator have opposing peaks/valleys.
Is anyone aware of a decent divergence indicator for MT4? Coding one myself is currently a little bit beyond my programming capabilities.
Once I get and adapt the indicator, I'd be happy to start a thread in the Trading Systems section discussing in detail rules for this system.
Thanks in advance for any pointers regarding said indicator.
Cheers
Bill
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