Forex Winner Overbought Oversold MT4 Indicator

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

Test results:

Forex Winner Overbought Oversold MT4 Indicator

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)

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