Overbought Oversold Detector
The Overbought Oversold Expert (OBOS) is designed to identify extreme situations and implement them fully automatically.
Extreme situations occur when the market is overbought or oversold.
The trade is opened in the direction of the desired, corrective movement.
If the market is overbought, the system trades short and vice versa.
The basis of the strategy is the ADX, supplemented by the Bollinger Bands, both of which are already present in the standard indicators in Metatrader. Therefore the system gets along without the further addition of indicators.
The parameters are individually adjustable and programmable in the backtest for each trading environment.
The EA is offered without an optimised template and requires a backtest optimisation, depending on the respective broker & underlying
You want to add your own ideas? please contact me.
Further features are:
- a money management separately adjustable for short and long positions
- Maintrade + 2 additional recovery trades, supplemented by an intelligent take profit system
- optional filter for trading hours and weekdays
- optional filter through higher timeframe signals
- Email at trade closure about the achieved trade result
- Magic Number to distinguish yourself from other active experts
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