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Divergence Trade
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Divergence Trade

  #1 (permalink)
Trading Apprentice
Cleveland+Ohio/USA
 
Futures Experience: Advanced
Platform: eSignal
Broker/Data: Fidelity / eSignal
Favorite Futures: Stocks
 
Posts: 11 since Apr 2013
Thanks: 0 given, 4 received

Divergence Trade

Here's example of Daily Strategy. Scan stocks nightly looking for Divergence opportunities.
Prefer Classic / Hidden Bullish Divergence. (Price = LH, Indicator = HH, or Price = HH Indicator = LH.)
If Divergence is present, it will ALWAYS be Bullish.

Top pane price...for scanning purposes I use Line Chart. Much easier on eyes to identify patterns on > 300 stocks
2nd pane dual CCI. Red = 21, Blue = 50.
3rd pane OBV (On Balance Volume)
4th pane BOP. Bop
(standard Google Search) use bop esignal

Chart shows Classic Bullish Divergence. P = LL, BOP = HL

Sequence of events:
BOP makes HL...for divergence to kick in(catapult / slingshot effect), BOP MUST follow through with HH.
BOP makes HH & TLB, & CCI(21) cross above -100...Entry Here
BOP cross above ZL(zero line)...confirmation
OBV cross above MA...confirmation
CCI(21) cross above ZL...confirmation
3 Bars later CCI(21) cross above +100
I hold until I don't hold.

If this is your methodology we should compare notes...maybe find some synergy (1+1=3)
Good Trading to All,
PeterJerome

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