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Photo

Simple OBV divergence alert


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#1 kouropalatisk

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Posted 23 March 2020 - 09:50 AM

Hello

I am looking for an OBV divergence indicator which gives alerts on the candle that forms divergence.

Not on the next one.

I know that giving alerts on the next one is more "solid" but I prefer on the candle and I'll be the judge if I wanna enter or not!  :D

 

I found one online (please see attached file 1)
but as you can see it shows tiny-little divergences than bigger/longer ones.

And it also when it sees a divergence, it alerts on-every-next-candle which is a bit annoying.

 

If it would show (and alert) on larger divergences (please see attached file 2) it would be ideal.

 

And I wanna use it on whatever timeframe needed if possible.

Let me know if anyone can be of any help.

Thank you guys.

(I don't know if I posted on the correct section!)

Attached Thumbnails

  • 2.PNG
  • 1.PNG


#2 BOedge

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Posted 23 March 2020 - 06:09 PM

If you were to look at the chart in real time running, then the point of divergence would be where the yellow line is [see pic]. That is where an indicator would alert. And also where you would mark that spot manually because you are not seeing the next lower low yet. An indicator cannot spot the point of wishful thinking for you. But maybe there is some other help...

 

You can try to find a multi timeframe indi. Failing that you can always have several charts open at the same time and check. Higher time frames will give you a greater range. 

 

Re alert during the current candle. Well, that would give too many false signals because the indi calculates from the close of the candle. An alert before the close would create a lot of false signals that end up disappearing once the candle closes. So you will be off not much better.

 

Here is another good thread with divergence 

http://www.binaryopt...nds-divergence/

it will help alert you to hi/lo conditions, then you can check the divergence you are looking for manually. Will save you at least some part of monitoring the charts and should do the trick. 

 

In order to create a reliable indi that gives you divergence further apart you need something that will pinpoint the two locations in the chart. Or you go by a certain distance, but then you run the risk of missing good set ups. Best to find the hi/lo areas in the chart like in the link just above and do the rest manually. 

Attached Thumbnails

  • boe.png


#3 kouropalatisk

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Posted 24 March 2020 - 06:45 AM

First, I'm glad you replied man, thank you for this!

I must agree that it'll give way too many signals if it occurs on the same candle, so I'm happy to alert on the very next one.

 

 

In order to create a reliable indi that gives you divergence further apart you need something that will pinpoint the two locations in the chart.

YES! There should be like...a factor to "expand" that distance.

Do you have anything in mind?

 

(again, thank you!)



#4 BOedge

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Posted 24 March 2020 - 03:43 PM

Glad to help

 

Read the thread in the link I posted, and also this one

http://www.binaryopt...p-to-code-indi/

which preceded that strategy. It explains how the signal for the highs and lows work, and has the whole progression into explaining how to work in the divergence. So both threads are a worthwhile read. You can just pop in your obv indi if it helps you, although many of these kinds of indis produce similar results. Both threads are not very long, very simple logic. 

 

Might want to save both threads and the pix, since this site will be closing down soon. 



#5 BOedge

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Posted 29 March 2020 - 02:21 PM

was just wondering if there are any indis for hidden divergence. One of the first options that came up was this

 

https://www.mql5.com/en/code/19153

 

Has lots of parameters to play with, including OBV, and how far back you want the indi to check. 






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