WPR Overbought Oversold trading system is based on trend momentum and uses Trend Magic indicator. You can download WPR Overbought Oversold trading system for free and test it out on Demo account.
How to trade with WPR Overbought Oversold trading system
The trading system is used on intraday basis, preferably on M30 timeframe. It will work on any major Forex pair, Index or Commodity. WPR Overbought Oversold trading system consists of:
- WPR Overbought Oversold Trading System with alerts (4 periods); Trend Magic; Stochastic (2,3,3,); Commodity Channel index (14), optional; ADR1.
One of the most important rules to follow when trading with the WPR Overbought Oversold system is to trade in the direction of the Trend Magic indicator.
Buy and Sell conditions: Whenever the Trend Magic line is blue, look for a green arrow of the WPR Overbought Oversold entry if Stochastic is bouncing from under 30 level and is crossing upwards. Alternatively, you can ignore the arrow signals and trade based on the direction of the Trend Magic indicator on a larger and current timeframe. The same but opposite conditions are required with red Trend Magic line for Sell condition.
Exit position: You can set take profit at nearby support/resistance level, ADR, or Fibonacci pivot levels. The initial stop loss should be 10 pips +spread from entry bar level.
Download 3 SMA Pip Machine
You can download WPR Overbought Oversold trading system for free by clicking the “Download” button located at the bottom of the screen.
Create your own custom EA or indicator
If you would like to create your own custom indicator or an EA, please contact AtoZ team saying “I want to create my own EA/indicator,” and describing your desired tool. Also, don’t miss out on various other indicators and EAs you can find in our database here.
How do you install an indicator on MT4?
In order to install this indicator on your MT4, you need to:
1. Click on “Download” button above to download WPR Overbought Oversold trading system;
2. Save the the file to your computer;
3. Extract and move the files into;
4. Restart your Metatrader platform;
5. Click “Templates” button in Metatrader toolbar;
6. Select “WPR Overbought Oversold trading system” and apply to your chart;
Note: WPR Overbought Oversold trading system was sent by an AtoZ Markets follower from Russia Oleg. AtoZ Markets does not carry any copyrights over this trading tool.