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    Trading Forex with Divergence on MT4/MT5 & TradingView
    Trading Forex with Divergence on MT4/MT5 & TradingView
    Trading Forex with Divergence on MT4/MT5 & TradingView
    Ebook95 pages1 hour

    Trading Forex with Divergence on MT4/MT5 & TradingView

    By Jim Brown

    4.5/5

    ()

    Read preview

    About this ebook

    All of Jim Brown's Forex books are consistently ranked 'Best Sellers'.

    Here is why… At no extra cost, or on-costs, Jim shares with his readers:

    • His custom indicators for the MT4/MT5 MetaTrader platforms, and more recently TradingView, as a download package at the end of the book.

    • An invitation to join his Facebook and Telegram Groups which have around 6,000 new as well as experienced Forex Traders contributing, including daily interaction with Jim.

    • Jim calls his trades live, shares his results and records weekly trade analysis videos on his YouTube channel.

    • Contact with Jim should you require any clarification on this trading method.

    Jim, from Queensland Australia, is a full-time Forex Trader and currently resides in Vietnam.

    While Divergence may sound a little technical and intimidating, be assured that it is easy to understand when you know what you are looking for.  Some even consider Divergence to be a leading indicator.  Basically it is the difference between what the actual price on the chart is doing and what an Oscillator type indicator is doing. 

    This book will use the same principles in Jim's very popular book, MT4/5 & TradingView High Probability Forex Trading Method, but it is a stand-alone book and concentrates more on trading with Divergence.  This method can also be used with any other financial instrument that your MT4, MT5 or TradingView platform offers.

    You will also receive access to a downloadable folder which includes:

    • Jim's personal custom indicators in MT4, MT5 & TradingView format

    • 50+ images to explain Forex trading using divergence

    • The P4L PeriodCon 509 custom indicator for MT4

    • YouTube videos providing instructions how to upload the indicators and templates onto your MT4, MT5 or TradingView platform

    • A thorough outline of Trading Forex with Divergence

    Jim's other books

    • MT4/MT5 & TradingView High Probability Forex Trading Method 

    • Forex Trading: The Basics Explained in Simple Terms

    Jim has been featured on

    • Desire to Trade Podcast with Etienne Crete

    • Trading Nuts Podcast with Cam Hawkins

    LanguageEnglish
    PublisherJim Brown
    Release dateMar 24, 2017
    ISBN9781541214361
    Trading Forex with Divergence on MT4/MT5 & TradingView

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    Reviews for Trading Forex with Divergence on MT4/MT5 & TradingView

    4.5/5

    16 ratings5 reviews

    What did you think?

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    Review must be at least 10 words

    • 5/5
      I like all his books. He is simply best.
      Paul
      Indonesia
    • 5/5
      Excellent book for me. Simple strategy and easy to follow.

      Eventually joined Jim's facebook group to see the strategy in action. And I'm really glad I did as Jim post possible daily setups based on his strategy!!!!
    • 5/5
      Great book again from Jim Brown, I study all 3 of his book and he explain it very well and easy to understand. This book is specifically talk about Divergence, and Jim Brown have proof it is a very useful indicator that can make your success rate higher when trading. This book is quite technical and you might need to review his first and second book before reading this book. But overall, after reading all 3 of his book and try his strategy myself. It is definitely bang for your buck!!!
    • 5/5
      A very interesting book, the second book that I read by Jim Brown. I suggest to read it to improve the own trading system. I highly recommend it
    • 5/5
      Everything is laid out perfectly for a new or an experienced trader. Jim has even provided the indicators along with his system and calls his trades daily to his followers for free. It can not be any easier than this to learn forex trading.

    Book preview

    Trading Forex with Divergence on MT4/MT5 & TradingView - Jim Brown

    1

      INTRODUCTION

    ––––––––

    My name is Jim Brown and I am a full time Forex Trader. In my previous book called MT4 High Probability Forex Trading Method, I described a very robust trading method that works very well on the longer time frame charts. What I mean by longer time frame is generally the 4hr or the Daily charts. This was a stand-alone trading method where I gave the reader various options on how to trade it.

    This book will use the same principles as the MT4 High Probability Forex Trading Method, however it will concentrate on the use of also trading with Divergence. I did mention Divergence in my previous book, but it was only a couple of paragraphs and I didn’t go into detail. This book will go into much greater detail with many examples. I might add that there is no requirement for you to buy my previous book as most of the information covered in that book is covered here as well.

    All of my trading is conducted on the hugely popular MetaTrader 4 platform, commonly referred to as MT4, as my custom indicators are specifically built for the MT4 platform and they use their own unique programming language. I appreciate that not everyone is a fan of the MT4 platform but the good news is, you can download a free MT4 demonstration account from a wide choice of brokers to conduct your trade analysis and then carry out your actual trading on your preferred platform.

    This book will contain a complete stand-alone trading method where there will be no upsells or further purchases required by the reader.  The only requirement to obtain the custom indicators is to subscribe, using your email, to an automated mailing system.

    November 2016 update: The software builder of MT4, Metaquotes, stated that they would no longer be upgrading the MT4 platform, as they now prefer to concentrate all their efforts on their MT5 platform. MT5 has been around for a few years now but it wasn’t very popular with traders or brokers due to some trading restrictions.

    Metaquotes has since modified it and it now appears to be a lot better. If the MT4 platform is phased out completely, then I will be converting all of my custom indicators over to the MT5 programming language so they can be used on that platform.

    I cannot imagine that the complete phasing out of MT4 will happen any time soon as there are still a lot of brokers who don’t offer the MT5 platform, so while there is no need to panic it is good to be prepared for when it does happen. 

    I also ask that you don’t blindly follow my trading systems.

    I offer a framework for you to build your own trading system around. Sure look at my ideas, but take them and make them your own. If you have your own favorite indicator you want to add, or you use another method for exits etc. then that is fine. I am not a Guru and I don’t necessarily agree with what a lot of the so called trading Gurus out there state either so I would expect nothing different from my readers.

    Have a look at what I offer and make your own decisions on how you want to trade. I will give you plenty of ideas in this book, some low risk and some a little higher risk. I will also follow some common rules with regards to trading Divergence, but I also look for slightly left field ways of trading it. In the end, the choice is yours.

    You have to come up with your own trading style that is simple and comfortable for you to use. It may not suit your trading buddy, but it has to suit you and that is the important thing. It is all about you and no one else.

    2

      WHAT IS DIVERGENCE?

    ––––––––

    Divergence sounds a little technical and intimidating but I can assure you that it is easy to understand when you know what you are looking for.

    Some even consider Divergence to be a leading indicator. What this means is that once Divergence is confirmed on a chart, it generally gives you an early warning indication that something is about to happen with regards to price, or it is currently happening. Many of the standard technical indicators are sometimes referred to as lagging indicators, which basically means that price has already moved by the time the indicator gives its signal. Some traders may disagree with this sort of generalization and I guess I do to a certain extent. I like using indicators to help me with my trading, and you will see plenty of examples in this book. But I do agree that Divergence can be considered a leading indicator, and you will see examples of this also.

    So, what is Divergence?

    Basically it is the difference between what the actual price on the chart is doing and what an Oscillator type indicator is doing. For example, if price on the chart is heading up and the Oscillator is heading down, then we have Divergence. If they were both going in the same direction, then there wouldn’t be any Divergence. It is just a big word

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