Develop MT4 EA and Indicator for divergence
$50-150 USD
Pagado a la entrega
Hi,
I need an indicator that can show me divergence based off RSI, MACD and Stochastic versus price. This is how it determines bearish divergence :
1) Swing high price sensitivity = X bars on the left and Y bars on the right must be lower than high of swing high bar. Total pip-distance of X bars must be at least X1*ATR. Total pip distance of Y bars must be at least Y1*ATR. X1 and Y1 are just custom adjustable values.
Reason : not good to have swing highs that are very 'shallow'.
2) 1st swing high = Point A
2nd swing high = Point B
Distance between Point A and B must be minimum Z bars
Point B must be higher than Point A (hence bearish divergence)
Reason : not good to have swing highs too close to each other.
3) Take note of point A price. This will be called = Target A
4) Swing highs on oscillators are similar to price. We need to know the sensitivity. So a swing high on oscillators need "O" bars to the left and "P" bars to the right to be lower than it. "O" and "P" are just adjustable custom values.
5) Now we take the time when Point A formed its swing high and add a buffer of A1 bars before and after it to create a time window. We look for a corresponding swing high in the oscillator in this time window. We call this :
Point AS = Point A's Stochastic swing high
Point AR = Point A's RSI swing high
Point AM = Point A's MACD swing high
6) We do the same for Point B. We find the time when point B formed its swing high and add a buffer of B1 bars before and after it to create a time window. We call this :
Point BS = Point B's Stochastic swing high
Point BR = Point B's RSI swing high
Point BM = Point B's MACD swing high
7) Point BS/BR/BM would have to be lower than point AS/AR/AM because that's how a bearish divergence is formed
8) We have the option to set how high the oscillators should form these swing highs (eg. above 80% for stochastic)
9) We now have an option for higher time frame filter. This one is simple, it uses stochastic. Stochastic on higher time frame should be above X% and starting to turn downwards. So if we spot bearish divergence on 5 minute, we look at 15 minute for stochastic to be turning down. For stochastic, we would have the option to select fast vs slow stochastic.
10) When divergence is found, draw diagonal lines indicating where they are on the chart. Flip everything to find bullish divergences.
11) There should be a look-back period to scan for past divergences too.
12) We should be able to adjust the settings of RSI/Stochastic/MACD too.
13) Would prefer if all values can be adjusted via a GUI on the chart. This forms the indicator part. The EA would use the same logic to place trades.
Nº del proyecto: #13986098