Forex Winner Overbought Oversold MT4 Indicator:
About the Forex Winner Overbought Oversold MT4 Indicator
Winner Overbought Oversold
Winner Overbought Oversold indicators are best suited for overbought/oversold analysis. Basically, there are two types of momentum oscillators: bound and unbound. Bound oscillators, such as this, fluctuate within a specific range.
The most popular indicators used to identify overbought and oversold conditions are the relative strength index (RSI) and the stochastic oscillator. But you need a second conformation for entry and exit position from forex market.
This indicators is suitable for scalping, intrday and swing trader.
OVERBOUGHT VS OVERSOLD TALKING POINTS:
Overbought means an extended price move to the upside; oversold to the downside
When price reaches these extreme levels, a reversal is possible
Copy and paste the file into the MQL4 Indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)