Wildhog NRP Divergence Forex Trading Strategy

There are times in the currency market when technical indicators will slightly disagree with the real price action of a forex pair that is being analyzed.

Technical analysts will in most cases find these disagreements very helpful and the Wildhog NRP Divergence forex trading strategy is based on this simple idea.

Chart Setup

MetaTrader4 Indicators: Wildhog NRP Divergence.ex4 (default setting), Gann HiLo activator bars.ex4 (default setting)

Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute, 30-Minute, 1-Hour, 4-Hour, 1-Day

Recommended Trading Sessions: Any

Currency Pairs: Any pair

Download

Download the Wildhog NRP Divergence Forex Trading Strategy

Buy Trade Example

Fig. 1.0

Strategy

Long Entry Rules

Enter a buy order if the following indicator or chart pattern get displayed:

  1. If a bullish divergence is triggered by the Wildhog NRP Divergence.ex4 custom indicator as seen on Fig. 1.0, price is said to be on its way up, hence a buy signal is in the offing.
  2. Upon fulfilling “Condition #1” as cited above, if blue bars gets formed by the Gann HiLo activator bars.ex4 custom indicator as depicted on Fig. 1.0, the sentiment in the marker is said to be bullish, as such a buy trigger is imminent.

Stop Loss for Buy Entry: Place stop loss 1 pip below immediate support.

Exit Strategy/Take Profit for Buy Entry

Exit or take profit if the following rules or conditions takes precedence:

  1. If the Wildhog NRP Divergence.ex4 custom indicator reveals a bearish divergence as seen on Fig. 1.0, it is an indication of weaning buy pressures, hence an exit or take profit is strongly recommended.
  2. If the bars of the Gann HiLo activator bars.ex4 custom indicator turns red when a buy signal is ongoing, an exit or take profit should be promptly considered.

Sell Entry Rules

Take up sell position(s) if the following holds true:

  1. If a bearish divergence is triggered by the Wildhog NRP Divergence.ex4 custom indicator as seen on Fig. 1.1, price is said to be on its way down, hence a sell signal is in the cards.
  2. Upon fulfilling “Condition #1” as quoted above, if red bars gets formed by the Gann HiLo activator bars custom indicator as seen on Fig. 1.1, the sentiment in the marker is said to be bearish, as such a sell trigger is approaching.

Stop Loss for Sell Entry: Place stop loss 1 pip above immediate resistance.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit if the following takes center stage:

  1. If the Wildhog NRP Divergence custom indicator triggers a bullish divergence, it is an indication of weaning bear pressures, hence an exit or take profit is strongly advised.
  2. If the bars of the Gann HiLo activator bars custom indicator turns blue when a sell signal is ongoing, an exit or take profit should be promptly considered

Sell Trade Example

Fig. 1.1

Free Download

Download the Wildhog NRP Divergence Forex Trading Strategy

About The Trading Indicators

The Gann HiLo activator bars.ex4 custom indicator is plotted over the activity chart and is essentially a simple moving average of the last three periods highs or lows plotted in relation to the HiLo Activator.

The Wildhog NRP Divergence.ex4 is an oscillator that plots bearish and bullish divergences with ease, thereby eliminating the stress of spotting them.

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