Steel Step Assistant: Divergence Indicator

21 Mar 2023

Disclaimer: Nobody should use this indicator as a confirmation signal for entry/exit for your trades. Please message me on how to use this indicator correctly. This indicator was designed to be used in conjunction with my Steel Step strategy, hence the name.

This indicator simply gives you a signal of a trend reversal.

The default settings produce directions that are very similar to what I use for my strategy. You can change the settings as desired.
The user inputs (settings) should be very straightforward. Length is the distance you want to compare the price.

This indicator can be used on all charts and markets; crypto, commodities, forex, stock, indices, etc.
It is suitable for intra-day traders, as well as HTF traders.

The default settings are configured to show you the trend reversal or market direction of "one layer" above "the current time frame layer". You can find educational materials about the layer logic from my Steel Step strategy.

One way of using this is to enhance your information gathering on trends in order to understand the market structure or direction better.
This indicator educates users on the market structure. Users can quickly break down the market into layers, analyze the layers and connect them all to understand the market as a whole. After users understand the market, users need to decide and choose a specific trend they want to trade. The basic idea is to flow with the market.

This indicator can be combined with EW theory to understand the market structure easily.

When I understand the whole market structure, it boosts my trading performance to the maximum.

Please comment below or message me if you have any questions. Enjoy!

27 May 2023

Sürüm Notları

This upgraded version improves the accuracy of finding divergences. This is a better representative of divergence. The critical principle is comparing indicator direction and price direction.

27 May 2023

Sürüm Notları

More accurate signals.