The Overbought Oversold EA is a short term model that identifies key RSI strength and weakness along a short term range. Based on the specific time frame set, the Metatrader EA can identify when a range is set and the degree of variance in the overall strength or weakness at the time. For example if the forex cross is trading in a sideways range, it will set specific RSI forex overbought oversold trading robots based on the historical data.
If these high or low points are touched, then the EA will trade accordingly. Caution should be taken, so as tThe Overbought Oversold EA is a short term model that identifies key RSI strength and weakness along a short term range. For example if the forex cross is trading in a sideways range, it will set specific RSI levels based on the histor.
more. Before trading with any of the brokers or software potential clients should ensure they understand the risks and verify that the broker is properly licensed. The website does not provide investment services or personal recommendations to clients to trade forex. Information on ForexFBI.com should not be seen as a recommendation to trade forWPR Overbought Oversold Trading System is a trend momentum strategy based on the trend magic indicator.
This system is for intraday trading.Time frame 30 min.Market: Forex Majors, Index and Commodities.Metatrader Indicarors:WPR Overbought Oversold Trading System with alerts (4 periods),Trend Magic,Stochastic (2,3,3,),Commodity Channel index (14) optional,ADR1.Trading Rules forex overbought oversold trading robots WPR Overbought Oversold Trading System Trading SystemTrade in the direction of the trend of the trend magic indicator.BuyWhen the Trend Magic line is blue color wait the green arrow of the WPR Overbought Oversold entry if Stochastic crossing upward.SellWhen the Trend Magic line is red color wait the sell arrow of the WPR Overbought Oversold.
entry if Stochastic crossing downward.Exit positionMake profit at the level of the support and resistance, ADR and fibonacci pivot levels. Place initial stop loss 10 pips belowOverbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.Oversold describes a period of time where there has been a significant and consistent downward move in price over a period of time without much pullback.This indicator will show the Overbought conditions (Green Bars) and Oversold conditions (Red Bars).
These indicators are called oscillators with two popular examples being Stochastics and RSI. Hi There,Can anyone suggest me the best overbought and oversold indicator with their settings. IgnoredI do not mean to be rude but you have marked to places which are like low and top but how will you define those places in live graph.once its past we can see that okay these were the best entries but in live we dont know where the price will stop.