Jimmy wrote: Mon Oct 12, 2020 10:01 pm

This is a really cool idea, I was searching through the forum for this indicator with Divergences but it seems we are not equipped with one yet. Hoping Mrtools will be able to upgrade this for us.

PS: For Mrtools, here's the indicator that TEAMTRADER posted

One question, if the rsi ma is say greater than level overbought do we only want to look for bear divergence or bull and bear divergence. Same with oversold level if rsima < oversold level do we want to only look for bullish divergence or both.

mrtools wrote: Tue Oct 13, 2020 5:19 am One question, if the rsi ma is say greater than level overbought do we only want to look for bear divergence or bull and bear divergence. Same with oversold level if rsima < oversold level do we want to only look for bullish divergence or both.

Yep

From looking back on it's signals, the best trades would be found if:

• If RSI MA is outside 80 Overbought we'd look for Bearish Divergence signal (to forecast a reversal to the downside)
• If RSI MA is outside 20 Oversold we'd look for Bullish Divergence (to forecast a reversal to the upside)

Would be great brother, if you're free!

Jimmy wrote: Mon Oct 12, 2020 10:01 pm

This is a really cool idea, I was searching through the forum for this indicator with Divergences but it seems we are not equipped with one yet. Hoping Mrtools will be able to upgrade this for us.

PS: For Mrtools, here's the indicator that TEAMTRADER posted

Try it out.

PS: If you would like to download a template with the indicator set up with Classic Divergences, see here: RSI MA 6 Lines Divergence indicator settings template for MT4.

mrtools wrote: Wed Oct 14, 2020 3:08 am Try it out.

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:

mrtools wrote: Wed Oct 14, 2020 3:08 am Try it out.

PS: If you would like to download a template with the indicator set up with Classic Divergences, see here: RSI MA 6 Lines Divergence indicator settings template for MT4.

wonderful wonderful wonderful work mrtoolz...........

moey_dw wrote: Thu Oct 15, 2020 12:49 am wonderful wonderful wonderful work mrtoolz...........

Hahaha you and your pics. Nice

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:

Don't know how it works but this is the result from today at my first chance to look at it.
It missed a bear divergence (short black lines) but picked up the hidden divergence - that I did not pick up by eye.
THEN before I had finished this post the bear divergence showed up on chart.
I watched this live to ensure the short was good and waited till the exit.
Consecutive screengrabs show the sequence of waiting and importantly the EXIT - when the RSx has reached the 20 level in this case. +10 points for that very safe trade.
Brilliant indi and it ensures everyone will have safer trading.
Thanks on behalf of all day traders.
TEAMTRADER

TEAMTRADER wrote: Thu Oct 15, 2020 1:29 am It missed a bear divergence (short black lines) but picked up the hidden divergence - that I did not pick up by eye.

That is spot on TEAMTRADER, love those consecutive screenshots as it gives us a good understanding of your trades.

You have some great ideas mate, thanks for the examples and settings you've posted in this topic

TEAMTRADER wrote: Thu Oct 15, 2020 1:29 am Brilliant indi and it ensures everyone will have safer trading.
Thanks on behalf of all day traders.
TEAMTRADER

What a great indi! The template is super neat also. I put some Bollinger in and S and D. Just have to check H candles now to see if an arrow has painted.
Wonderful thanks to TEAMTRADER for the ideas and MRTools for the coding. Could be my favorite Div indi right now.

simontw wrote: Thu Oct 15, 2020 2:41 am
What a great indi! The template is super neat also. I put some Bollinger in and S and D. Just have to check H candles now to see if an arrow has painted.
Wonderful thanks to TEAMTRADER for the ideas and MRTools for the coding. Could be my favorite Div indi right now.

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