Forex Super Accurate Trading System – Slope Direction Line Trading Zone With OverBought OverSold (OBOS) Oscillator and Heiken Ashi Trend Filter. Two of the most common indicators of overbought or oversold conditions are the relative strength index (RSI) and the stochastic indicators.
Relative Strength Index (RSI) is an extremely popular momentum indicator that has been featured in a number of articles, interviews, and books over the years.
RSI 50 level can be used as a strong tool to confirm the different kinds of trade setups from any trading system. Whether you use the candlestick patterns, support/resistance breakout, or any other trading system, you can consult the RSI 50 level to confirm your trade setups.
The Stochastic Oscillator (8,4,4) is a two-line indicator that fluctuates between 0 and 100.
The indicator shows how the current price compares to the highest and lowest price over the look back period. In the trading system, the look back is 8 periods; on a weekly chart that is 8 weeks, on an hourly chart 8 hours.
Above 50 and the price is trading within the upper portion of the 8-period range; below 50 and the price is trading in the lower portion of the 8-period range.
Heikin Ashi Candlesticks – The Heikin-Ashi technique is extremely useful for making candlestick charts more readable–trends can be located more easily, and buying opportunities can be spotted at a glance.
This Slope Direction Line Trading Zone With OverBought OverSold Oscillator Filter is an ultimate guide to trading the market. The trading system includes the best trading indicators the forex trader must know.
- Best Time Frames: 30 min, 60min, 4 hours, and Daily
- Recommended Currency Pairs: major
- Slope Direction Line
- Trading Zone
- Heiken Ashi
- OBOS (OverBought OverSold Oscillator) signal
- Ichimoku Tenkan-Sen
- Signal Trend
- Slope Direction Line blue color
- Trading Zone green bars
- OBOS (OverBought OverSold Oscillator) Arrow signal blue color below the price
- Support Resistance white color below the price
- Price above upward Ichimoku Tenkan-Sen
- RSI line upward above 50 level
- Stochastic Oscillator upward
- Signal Trend green color bars
- Heiken Ashi Candle White color
- Slope Direction Line red color
- Trading Zone red bars
- OBOS (OverBought OverSold Oscillator) Arrow signal red color above the price
- Support Resistance Yellow color above the price
- Price below downward Ichimoku Tenkan-Sen
- RSI line downward below 50 level
- Stochastic Oscillator downward
- Signal Trend red color bars
- Heiken Ashi Candle red color
- Stop loss is recommended at previous support /resistant levels. Use your own judgment.
- Trailing stops can be used.