The Wildhog NRP Divergence Indicator is a technical indicator designed for use on the MT4 trading platform. It helps traders identify and analyze divergences in the market, which can be used as a signal for potential trend changes.
The indicator can detect both bullish and bearish divergences and displays them on price charts. It provides pop-up alerts, audio alarms, and email notifications to alert traders to divergences.
The Wildhog NRP Divergence Indicator is designed to provide traders with information that can assist in making informed trading decisions.
Divergence signals may not work during low liquidity periods of the market and that divergence alone does not guarantee a long-term trend reversal. Traders should seek additional confirmation of market momentum before making a trade.
Buy Signal Generation With Wildhog NRP Divergence Indicator
The Wildhog NRP Divergence Indicator generates buy signals when it spots a strong bullish market momentum. To generate a buy signal, the price of the currency pair should be plotting a lower high while the indicator value is printing a higher high.
When the indicator displays a green arrow, this confirms a bullish divergence, indicating a potential trend reversal. Traders can enter a buy order at the point where the price breaks above the trendline created by the Wildhog NRP Divergence Indicator.
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Sell Signal Generation With Wildhog NRP Divergence Indicator
The Wildhog NRP Divergence Indicator generates sell signals when it detects a change in market momentum. To generate a sell signal, the price of the currency pair should be plotting a higher high while the indicator value is printing a lower high.
The blue arrow of the indicator confirms a bearish divergence, indicating a potential trend reversal. Traders can enter a sell order at the point where the price breaks below the trendline created by the Wildhog NRP Divergence Indicator. It is advisable to set a stop-loss order above the current resistance level to limit potential losses in case the trade goes against the trader.
