TIP: Simple way to trade True Oversold Overbought: Example of trading 1H Chart
Step 1: 👉 Select updated indicator or old functionality
Step 2: 👉 Enable "Draw Rectangle on Chart"
Step 3: 👉 Move to 1H Chart and make sure the indicator has displayed a rectangle zone.
Step 4: 👉 Move to 15M Chart and wait for a YellowGreen/Violet box to form.
Step 5: 👉 If the box in step 4 is YellowGreen, buys will be stronger:
open a buy, if price opens above the YellowGreen box in the 15M current chart.
open a sell, if price opens below the Violet box in the 15M current chart.
Step 6: 👉 If you want to trade on:
1M chart check 5M chart
5M chart check 30M chart
15M chart check 1H chart
30M chart check 4H chart
1H chart check 4H chart
4H chart check 1D chart
Fig 1: Oversold Box on 1H Chart.
Fig 2: Oversold Box on 15M Chart. Buy as long as the price is supported by the yellowgreen box as shown.
Manual Part 1 | Manual Part 2 | Manual Part 3
Download Indicators
True Oversold Overbought (MT4)
True Oversold Overbought (MT5)
Link to MQL5 Store: https://www.mql5.com/en/users/pipmontra/seller
