NXC Slope Divergence Indicator
Platform: MT4 Type: Channel Last update: October 18, 2024The NXC Slope Divergence Indicator is a slope indicator based on the divergence between price and NXC trading indicator. Trades are triggered at the touch of trendlines that are plotted by NXC Slope Divergence Indicator and they together create a channel.
Take a look at an example chart.
How to apply NXC Slope Divergence in trading?
Buy Entry: Open long trade when the price is near the bottom of the channel and the NXC Slope Divergence channel is pointing upward. At the same time, the blue signal line should reach -50 level. Place your stop loss a few pips below the last swing low.
Sell Entry: Open short trade when the price is near the top of the channel and the NXC Slope Divergence channel is pointing downward. At the same time, the blue signal line should reach 50 level. Place your stop loss a few pips above the last swing high.
Exit Trade / Take Profit: Close your open position when the price reaches the opposite channel band, or use your own preferred method of trade exit.
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