Here i would like to talk about a automated trading bot or expert advisor that trades Macd divergence with a rsi filter.
There will be some links at the bottom of this page for a free version, although please read this article to fully understand what this “ EA” does.
Here is an example of a Sell trade that works perfectly, the blue line in the upper segment below is the rsi relative strength index, it shows when above or below the line or a certain level price has become overbought or oversold and could be a good time for price to change direction. This is where the macd divergence comes in. for the divergence to occur price must be telling a different story to the macd indicator , here price has gone down but the indicator shows signs of rising.
This EA is avaliable free for mt5 & mt4 , all input setting are available there.
