I’m going to talk about strategies based on default Indicators and also Custom indicators. This one is based on a custom indicator named J TPO. The idea behind this indicator is the
I’ve used J TPO indicator for 70% of my strategies and it gives me awesome results. Also, this indicator can be used for price action trading. I’m going to talk more about price action from another post. So let’s dig into the J TPO strategy
The basic idea of this strategy is to look for oversold and overbought levels of J TPO. When the indicator is oversold or overbought we prepare for a reversal. There’s a high chance of next candle to be a reversal candle. But keep in mind as I talked earlier this can be used as a Trend following indicator also. You can use this indicator alone or for better results combine it with a low win rate strategy and see the mind-blowing results because this is a good signal confirmation indicator. I’ll talk about more strategies based on J_TPO in future posts.
Indicators used : J TPO ( ($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 ;
J_TPO Settings
Period: 4
Rules for J TPO indicator strategy
Wait for the indicator to be oversold/overbought. Enter the trade during the last 2-3 seconds of the previous candle or before candle expiry. Enter the trade for the opposite direction of the trend. Don’t martingale. You’ll get more signals per day. Usually 5-10 signals per hours. So you might need a good filter to filter out best possible entries
See the chart Below For Possible Entries
Disclaimer
NOTE: This article is not about investment advice.
www.fbforex.com/disclaimer