Double Top/Bottom and Stochastic Divergence ShowMe

[][]Added a simple ShowMe to my fast period chart of my day trading workspace for scalping. The idea here is that often times, the price would top/bottom at some points and then change direction momentarily for a breather. This doesn't necessarily signal a trend reversal, but more often a quick retracement of the price for a breather. So an exit bracket should be used with Stop just outside of the top/btm and a profit target based on the ATR.

The second condition used is a Fast Stochastic divergence. The third condition is that the Stochastic has to be in OB or OS zone.

Update: This ShowMe is popping too many times in real-time. Because in real-time, open = high = low when the bar opens. Then when the price goes down, stochastic would go down too and so the ShowMe would go on.


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