Here is the USD/CHF Daily chart that I just snapshot earlier. Is this the correct way of identifying a divergence? Pls guide me.
Also, pls correct me if I’m wrong, if this is not a good time to go short considering the face that the MACD line (blue) just cut the signal line (orange).
Well, not with yours, what made me wonder was that I use 1 indicator, I’m not a big fan of indicators at all but the one I use(StochRSI) serves a little purpose and it’s just I have it set to the same as my MA.
You aren’t supposed to change it. You can use the standard settings that you have. Looks like you are using default for MACD which is fine and slow stochs. As for your question, I would not consider it a divergence due to the fact that you stoch angle is much shallower than that of the chart. It’s not as clean as it could be. Then again, I don’t normally trade divergences, so maybe someone who does can give their insight as well.