Waddah Attar Explosion
Recently, I watched a video by Tim Black (Trading Strategy Guides) on “How To Spot Divergences”. He introduced me to a new indicator which you may find useful: the MT4 Waddah Attar Explosion.
You can download the indicator from the link below. The link includes the installation procedure and its trading rules.
Waddah Attar Explosion – indicator for MetaTrader 4
I should make it clear that I don’t use Attar’s trading rules. Instead, I prefer to combine WAE with a momentum indicator. That way, I have both price and volume divergence. In the chart below, I have used the 5-period RSI as the momentum indicator.
The chart above shows a top identified by:
- A price zone (blue rectangle)
- Attar volume divergence
- RSI momentum-price divergence
The post Waddah Attar Explosion appeared first on Ray Barros’ Blog for Trading Success.
Source: http://www.tradingsuccess.com/blog/waddah-attar-explosion-6745.html
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