Merely, True Oversold Overbought indicator can be utilized as a buying and selling system.
Step 1. Examine the upper timeframe for an oversold/overbought zone.
| Timeframe to commerce | Timeframe to test |
|---|---|
| 4Hr | Day by day Chart |
| 1Hr | 4Hr |
| 30M | 1Hr |
| 15M | 30M |
| 5M | 15M |
| 1M | 5M |
Step 2. Set the ordinarily promote/purchase stage=80/-80 then hint the inexperienced/violet zone/ rectangle on the upper timeframe.
Instance, if you wish to commerce on 1 m, hint on 5M chart.
Step 3. Transfer to the decrease timeframe (1M chart on this case).
In case you have traced the violet field (overbought field) test for overbought packing containers on 1M chart that type inside /close to the traced 5M chart. Promote when a candle opens under the rectangle.
Step 3. Lock Revenue.
Preserve locking your revenue above the earlier excessive after the oversold zone types.
Step 4. Repeat step 1 after one other auto oversold/overbought zone types within the greater timeframe.
True Oversold Overbought:: https://www.mql5.com/en/market/product/68396
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