Developing a system #11 (Mohammed Munzer Divergence System)
Submitted by Edward Revy on January 16, 2009 - 16:00.
Submitted by Mohammed Munzer
I am trying this Divergence system
It seems working well and I want to reveal it here
I wish from readers comment on it in order to advance it
Timeframe: any timeframe (60 minutes preferred)
Indicators needed: DPO(14) Stochastics(9,5,5) Pivots daily (Including midpivots ignoring the pivot line)
We wait till a divergence appears (Regular or Hidden) with DPO confirmed by Stochastics then waiting till price breaks a pivot level whatever it is to put an entry order with the opening with new candle in the new zone..
Limit is put at the coming pivot level (Support or Resistance) excluding the pivot line and stop is put at the extreme of the previous candle.
If price breaks the level of the 1st price divergence line we put another entry order with the open of the new candle if its level was away of a pivot one or we are obliged to wait the break of the coming pivot
that's usually enough (2 orders) because conditions after than would be diminished as we are only depending on divergence away of any another technique.
Waiting ur comments