This Forex indicator is based on Chande Momentum Oscillator (CMO). Chande Momentum Oscillator Strategy is based on CMO_v1 which I believe is an updated version of CMO. You can have different settings for Chande Momentum Oscillator Strategy. Default length is 14. But as you know I’m very interested in using lower lengths or lover periods. As we go along with this system you can see why I chose the lower length. 90% of the time we introduce Binary Options Indicators for you. But it can be used for Forex too. The
There’s a famous term among forex traders “Indicators Indicates”. That’s true. These are not future predicting indicators. They just show what history is. But there is a chance not 100% but a chance that you can think about future possibilities by looking at an indicator. You know there’s a saying “Future Repeat itself” I think that’s the whole idea behind indicators charts and Platforms like Metatrader. Because everything is a result of how Traders behave behind the market. How they react to price action. How emotional they are. As traders, we should know how to balance all these and control over self. Self-discipline is very important for Forex Traders to be successful in the industry.
Chande Momentum Oscillator Strategy : CMO Binary Options Strategy
Indicators used : Chande Momentum Oscillator ( ($9.99 Only + Instant Download)
Time Frame : 1M,5M,15M
Expiry Time: 1M,5M,15M
Entry: 2-3 Seconds Before Previous Candle Expiry
You need to set up your charts like below ;
Length : 4
Price : 4
I think you already know the rules just by looking at the chart because I used the same technique in previous articles. If you are new to this website I recommend you to start reading from the beginning. Start from here.
Look for oversold and Overbought. Once indicator hits top or bottom enter the next trade in the opposite direction. There are two scenarios. Once is you enter the trade opposite direction as I explained now. The Second scenario is entering the trade in the same direction as the current candle. You can understand this if you take a look at the chart below
See the chart Below For Possible Entries
NOTE: This article is not about investment advice.