The exclusive OBOS Indicator determines the inputs based on the price action.
OBOS Indicator is an effective and convenient indicator.
The indicator uses a simple color scheme and levels to indicate oversold and overbought conditions. In the indicator, everything is simple.
The OBOS Indicator shows options for possible inputs. I.e., it is a source of useful information.
Rules for using the indicator:
- wait for the overbought or oversold signal (blue and purple bars)
- after the signal appears, wait for the price to calm down (a small bar or no bar in the indicator).)
- enter the market with a buy or sell transaction
Examples of logging in using these rules are shown in the screenshots.
Indicator input parameters:
- MaxBars – the number of bars displayed on the chart.
- Smoothing period – the smoothing period for calculating the indicator.
The indicator works on any symbols: forex, stocks, commodities, futures.
The indicator can also be used when trading binary options.
The indicator works perfectly with any timeframe.