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OBOS Indicator for MT5


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.

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