TEAMTRADER wrote: Thu Oct 15, 2020 3:05 am
That is good Simon - I took off my BB before I posted.
Here is the GU with them on. I agree they are super safe.
TEAMTRADER

Do you use the volatility bands, if not can remove them and make a much lighter version which maybe the divergence will be a little better, no promises on the divergence but it may be better? Maybe just tell me what all you use on the indicator and can remove the rest.

TEAMTRADER wrote: Thu Oct 15, 2020 3:05 am
That is good Simon - I took off my BB before I posted.
Here is the GU with them on. I agree they are super safe.
TEAMTRADER

Yes previously I traded DIv with BBMA. So would often trade from LW 5 high to low/low to high. Leaves a lot on the table but safer trades.
Now experimenting with your exits so basically staying in until reaches your targets of 20/5 and 70/5. With a consistent SL those winners can be nice and big. Lets see how I do this week.

TEAMTRADER wrote: Thu Oct 15, 2020 3:05 am
That is good Simon - I took off my BB before I posted.
Here is the GU with them on. I agree they are super safe.
TEAMTRADER

Hello Tematrader,

please, can you share the black arrow indicator ?

Greetings

mrtools wrote: Thu Oct 15, 2020 8:49 am

Do you use the volatility bands, if not can remove them and make a much lighter version which maybe the divergence will be a little better, no promises on the divergence but it may be better? Maybe just tell me what all you use on the indicator and can remove the rest.

No, I do not use the volatility bands.
These are my settings - copied from the mq4 file.
Thanks
TEAMTRADER
//+------------------------------------------------------------------+
//| rsimabands |
//| |
//+------------------------------------------------------------------+

#property copyright "www.forex-station.com"
#property link "www.forex-station.com"

#property indicator_separate_window
#property indicator_buffers 9
#property indicator_color1 clrNONE
#property indicator_color2 clrBlue
#property indicator_color3 clrRed
#property indicator_color4 clrPlum
#property indicator_color5 clrNONE
#property indicator_color6 clrBlue
#property indicator_color7 clrRed
#property indicator_color8 clrPlum
#property indicator_color9 clrNONE
#property indicator_width2 2
#property indicator_width3 2
#property indicator_width4 11
#property indicator_width6 6
#property indicator_width7 6
#property indicator_width8 11
#property indicator_levelcolor clrBrown
#property indicator_levelstyle STYLE_SOLID
#property indicator_levelwidth 3
//
//
//
//
//

enum enPrices
{
pr_close, // Close
pr_open, // Open
pr_high, // High
pr_low, // Low
pr_median, // Median
pr_typical, // Typical
pr_weighted, // Weighted
pr_average, // Average (high+low+open+close)/4
pr_medianb, // Average median body (open+close)/2
pr_tbiased, // Trend biased price
pr_haclose, // Heiken ashi close
pr_haopen , // Heiken ashi open
pr_hahigh, // Heiken ashi high
pr_halow, // Heiken ashi low
pr_hamedian, // Heiken ashi median
pr_hatypical, // Heiken ashi typical
pr_haweighted, // Heiken ashi weighted
pr_haaverage, // Heiken ashi average
pr_hamedianb, // Heiken ashi median body
pr_hatbiased // Heiken ashi trend biased price
};
enum enRsiTypes
{
rsi_rsi, // Regular RSI
rsi_wil, // Wilders RSI
rsi_rsx, // RSX2
rsi_cut // Cuttlers RSI
};

extern double RsiPeriod = 43;
extern enRsiTypes RsiType = 2;
extern enPrices RsiPrice = 15;
extern int Depth = 2;
extern double Speed = 0.5;
extern int RsiPriceLinePeriod = 2;
extern ENUM_MA_METHOD RsiPriceLineMAMode = MODE_LWMA;
extern int RsiSignalLinePeriod = 7;
extern ENUM_MA_METHOD RsiSignalLineMAMode = MODE_LWMA;
extern int VolatilityBandPeriod = 17;
extern ENUM_MA_METHOD VolatilityBandMAMode = MODE_LWMA;
extern double VolatilityBandMultiplier = 0.00;
extern double LevelDn = 24;
extern double LevelDn1 = 34; //Was -11
extern double LevelMid = 46;
extern double LevelMid1 = 54;
extern double LevelUp = 66;
extern double LevelUp1 = 76; //Was 115
extern bool ColorOnSlope = true;
extern bool verticalLinesVisible = true; // Show vertical lines
extern bool linesOnNewest = true; // Lines on newest bar?
extern string verticalLinesID = "TDI Lines1"; // Lines ID
extern color verticalLinesUpColor = clrBlue; // Lines up color
extern color verticalLinesDnColor = clrRed; // Lines down color
extern ENUM_LINE_STYLE verticalLinesStyle = STYLE_DOT; // Lines style
extern int verticalLinesWidth = 8; // lines width

Using the bollinger with the new RSI indi I think mid bb is a great place for BE as sometimes we do not reach the target zone but we do manage to get mid BB more often than not.

Also does anyone else think an alert would be great? Right now I have on the H so no real need as I just check manually but looking on m15 seems to be some nice opportunities that would be missed without an alert.

simontw wrote: Fri Oct 16, 2020 1:59 am Using the bollinger with the new RSI indi I think mid bb is a great place for BE as sometimes we do not reach the target zone but we do manage to get mid BB more often than not.

Also does anyone else think an alert would be great? Right now I have on the H so no real need as I just check manually but looking on m15 seems to be some nice opportunities that would be missed without an alert.

Sounds interesting Simon, just a bit hard to picture what you're explaining. Would you share your template with us mate?

TEAMTRADER wrote: Thu Oct 15, 2020 8:07 pm
No, I do not use the volatility bands.
These are my settings - copied from the mq4 file.
Thanks
TEAMTRADER

Code: Select all

//+------------------------------------------------------------------+
//|                                                       rsimabands |
//|                                                                  | 
//+------------------------------------------------------------------+

#property copyright "www.forex-station.com"
#property link      "www.forex-station.com"

#property indicator_separate_window
#property indicator_buffers    9
#property indicator_color1     clrNONE
#property indicator_color2     clrBlue
#property indicator_color3     clrRed
#property indicator_color4     clrPlum
#property indicator_color5     clrNONE
#property indicator_color6     clrBlue
#property indicator_color7     clrRed
#property indicator_color8     clrPlum
#property indicator_color9     clrNONE
#property indicator_width2     2
#property indicator_width3     2
#property indicator_width4     11
#property indicator_width6     6
#property indicator_width7     6
#property indicator_width8     11
#property indicator_levelcolor clrBrown
#property indicator_levelstyle   STYLE_SOLID
#property indicator_levelwidth   3
//
//
//
//
//

enum enPrices
{
   pr_close,      // Close
   pr_open,       // Open
   pr_high,       // High
   pr_low,        // Low
   pr_median,     // Median
   pr_typical,    // Typical
   pr_weighted,   // Weighted
   pr_average,    // Average (high+low+open+close)/4
   pr_medianb,    // Average median body (open+close)/2
   pr_tbiased,    // Trend biased price
   pr_haclose,    // Heiken ashi close
   pr_haopen ,    // Heiken ashi open
   pr_hahigh,     // Heiken ashi high
   pr_halow,      // Heiken ashi low
   pr_hamedian,   // Heiken ashi median
   pr_hatypical,  // Heiken ashi typical
   pr_haweighted, // Heiken ashi weighted
   pr_haaverage,  // Heiken ashi average
   pr_hamedianb,  // Heiken ashi median body
   pr_hatbiased   // Heiken ashi trend biased price
};
enum enRsiTypes
{
   rsi_rsi,  // Regular RSI
   rsi_wil,  // Wilders RSI
   rsi_rsx,  // RSX2
   rsi_cut   // Cuttlers RSI
};

extern double          RsiPeriod                = 43;
extern enRsiTypes      RsiType                  = 2;
extern enPrices        RsiPrice                 = 15;
extern int             Depth                    = 2; 
extern double          Speed                    = 0.5;   
extern int             RsiPriceLinePeriod       = 2;
extern ENUM_MA_METHOD  RsiPriceLineMAMode       = MODE_LWMA;
extern int             RsiSignalLinePeriod      = 7;
extern ENUM_MA_METHOD  RsiSignalLineMAMode      = MODE_LWMA;
extern int             VolatilityBandPeriod     = 17;
extern ENUM_MA_METHOD  VolatilityBandMAMode     = MODE_LWMA;
extern double          VolatilityBandMultiplier = 0.00;
extern double          LevelDn                  = 24;
extern double          LevelDn1                 = 34; //Was -11
extern double          LevelMid                 = 46;
extern double          LevelMid1                = 54;
extern double          LevelUp                  = 66;
extern double          LevelUp1                 = 76; //Was 115
extern bool            ColorOnSlope             = true;
extern bool            verticalLinesVisible     = true;            // Show vertical lines
extern bool            linesOnNewest            = true;             // Lines on newest bar?
extern string          verticalLinesID          = "TDI Lines1";      // Lines ID
extern color           verticalLinesUpColor     = clrBlue;   // Lines up color 
extern color           verticalLinesDnColor     = clrRed; // Lines down color
extern ENUM_LINE_STYLE verticalLinesStyle       = STYLE_DOT;        // Lines style
extern int             verticalLinesWidth       = 8;                // lines width

This should be a lighter version.

hi mrtools

Is it possible to add alerts on current bar to the divergences please?

rsima + baseline (divergence)

camisa wrote: Sat Oct 17, 2020 12:02 am hi mrtools

Is it possible to add alerts on current bar to the divergences please?

rsima + baseline (divergence)

Divergence alerts added.

Jimmy wrote: Wed Oct 14, 2020 8:05 pm

You've done it

This is a special indicator, indeed and the best part is that it filters those Divergence signals so well. For me, this is the Best RSI Divergence indicator on MT4 now.

Divergences are only visible on this indicator if:

• If RSI MA is outside 80 Overbought, Bearish Divergence signal will appear (to forecast a reversal to the downside)
• If RSI MA is outside 20 Oversold, Bullish Divergence signal will appear (to forecast a reversal to the upside)

Thank you Mrtools for taking time to upgrade & optimize this indicator for us & thanks to TEAMTRADER for the great suggestion and for sharing his settings in the previous posts.

PS: For traders looking for a template to get you started, here's what we've posted today:

Hi.
Can you add an alarm to this indicator?

edit : found it ..thanks mr tools