A SCLAPING ROBOT BASED ON PRICE ACTION COMBINED WITH INDICATOR ARE NEEDED.

Indicators Used:

Volume Indicators:

Awesome Oscillator (AO)

On-Balance Volume (OBV)

Chaikin Money Flow (CMF)

Liquidity and Volatility Indicators:

Bollinger Bands (BB)

Average True Range (ATR)

Keltner Channel

Key Levels Indicators:

Fibonacci Retracement

Moving Averages (50-period EMA & 200-period EMA)

Momentum Indicator:

Relative Strength Index (RSI)

Price Action Tool:

Horizontal Support and Resistance Levels

How to Identify Key Levels of Support and Resistance:

Horizontal Support and Resistance:

Support: A price level where the market has bounced upward multiple times in the past. At least 2 to 3 times

Resistance: A price level where the market has reversed downward multiple times. At least 2 to 3 times

How to Identify:

Look for levels where price has historically reversed or stalled. These are horizontal zones where price touched or bounced several times. At least 2 to 3 times

Psychological Levels:

Round Numbers: Traders often react strongly to "round numbers" (e.g., 1.1000, 1.1500 in EUR/USD), which can act as natural support or resistance.

Strategy Overview:

This strategy involves waiting for confluence among the volume indicators, volatility indicators, and key level indicators to confirm entries. We use price action with horizontal support/resistance levels and Fibonacci retracements as an extra filter to confirm the entry and avoid false breakouts.

BUY TRADE SETUP

Step 1: Identify Market Conditions with Trend Confirmation

Trend Direction: Ensure the market is in an uptrend by checking the 50-period EMA above the 200-period EMA. This confirms the market bias is bullish.

Step 2: Liquidity and Volatility Confirmation

Bollinger Bands (BB): Look for a Bollinger Band squeeze (bands contract), which indicates the market is consolidating and building liquidity.

Keltner Channel: Confirm that the price is within the Keltner Channel (shows consolidation).

Average True Range (ATR): ATR should show low volatility (declining ATR) to signal that a breakout may be imminent.

Step 3: Volume Confirmation

Awesome Oscillator (AO): Should show green bars above the zero line to confirm bullish momentum.

On-Balance Volume (OBV): OBV should be rising as price approaches key support or Fibonacci retracement level, indicating buying pressure.

Chaikin Money Flow (CMF): CMF should be positive (above zero) to confirm buying pressure and that money is flowing into the market.

Step 4: Identify Key Support Level

Horizontal Support/Resistance: Ensure price is near or bouncing off a strong horizontal support level or a Fibonacci retracement level (38.2% or 61.8%).

Moving Averages (MA): Price should be either bouncing off the 50-period EMA or remaining above the 200-period EMA.

Step 5: Momentum Confirmation

RSI: RSI should be above 50, ideally around 30-50, indicating that the market is not overbought but has room for an upward move.

Step 6: Entry Trigger

Wait for price to close above the upper Bollinger Band following the contraction. This indicates that the market is breaking out of a liquidity zone with rising volume and volatility.

Entry Criteria (Buy):

Entry: Enter a buy trade when price breaks and closes above the upper Bollinger Band with confirmed volume signals from AO, OBV, and CMF.

Stop-Loss: Set stop-loss in 100 points.

Take-Profit: Use a risk-to-reward ratio of at least 1:3, or take profit at the next resistance level or when price starts to contract and volatility decreases (ATR declines).

SELL TRADE SETUP

Step 1: Identify Market Conditions with Trend Confirmation

Trend Direction: Ensure the market is in a downtrend by checking the 50-period EMA below the 200-period EMA. This confirms the market bias is bearish.

Step 2: Liquidity and Volatility Confirmation

Bollinger Bands (BB): Look for a Bollinger Band squeeze (bands contract), signaling liquidity buildup.

Keltner Channel: Confirm price is near or inside the Keltner Channel.

Average True Range (ATR): ATR should show low volatility (indicating consolidation), with the expectation that volatility will soon increase.

Step 3: Volume Confirmation

Awesome Oscillator (AO): AO should show red bars below the zero line, indicating bearish momentum.

On-Balance Volume (OBV): OBV should be declining as price nears resistance, showing that sellers are in control.

Chaikin Money Flow (CMF): CMF should be negative (below zero) to confirm selling pressure.

Step 4: Identify Key Resistance Level

Horizontal Support/Resistance: Ensure price is near or being rejected from a strong resistance level or a Fibonacci retracement level (38.2% or 61.8%).

Moving Averages (MA): Price should either be rejected from the 50-period EMA or remain below the 200-period EMA.

Step 5: Momentum Confirmation

RSI: RSI should be below 50, ideally in the 50-70 range, indicating that the market is not yet oversold and has room for a downward move.

Step 6: Entry Trigger

Wait for price to close below the lower Bollinger Band following a squeeze and expansion. This signals a breakout from a liquidity zone, confirming increased volatility and volume.

Entry Criteria (Sell):

Entry: Enter a sell trade when price breaks and closes below the lower Bollinger Band, with volume confirmation from AO, OBV, and CMF.

Stop-Loss: Place the stop-loss in 100 points and Take-Profit Aim for a risk-to-reward ratio of at least 1:3, or take profit at the next support level or when price starts contracting again with ATR decreasing.

Summary of Entry Conditions:

BUY SETUP:

Trend: 50 EMA > 200 EMA.

Liquidity/Volatility: Bollinger Band squeeze, confirmed by low ATR and Keltner Channel.

Volume: AO green above zero, OBV rising, CMF positive.

Key Levels: Near support or Fibonacci retracement (38.2% or 61.8%), or bouncing from 50 EMA.

RSI: Above 50 (ideally 30-50).

Entry Trigger: Price closes above the upper Bollinger Band.

SELL SETUP:

Trend: 50 EMA < 200 EMA.

Liquidity/Volatility: Bollinger Band squeeze, confirmed by low ATR and Keltner Channel.

Volume: AO red below zero, OBV declining, CMF negative.

Key Levels: Near resistance or Fibonacci retracement (38.2% or 61.8%), or rejected from 50 EMA.

RSI: Below 50 (ideally 50-70).

Entry Trigger: Price closes below the lower Bollinger Band.

TIME FRAMES:

 5mnt to 1hrs.

COMMON TRADING PAIRS:

All forex major currency pairs and Gold (XAUUSD)

RISK MANAGEMENT:

Stop-Loss: Place stops just 100 Points.

Take-Profit: Use a 1:3 risk-to-reward ratio and adjust based on major support or resistance levels.