779# Smart Trader Indonesia System
Price action momentum trading
Obos oscillator Overbought-Oversold filtereb by bands.
Submit by Xmember (viewed by Maximo trader)
Smart Trader Indonesia System is a strategy of a Telegram group of the same name. The strategy is an price action momentum based on Obos oscillator Overbought-Oversold.
Here we present two versions of the original and a second one with trend filter for the simple reason that the original version was brutally criticized on a well-known forex forum, (but the forum has a good reputation in the forex panorama). The criticism that is made is that the oscillator Obos recalculates, it is true, but the opposition moved was very superficial because the signals it provides are valid, and, in any case we are talking about a price action system based also on support and resistance. In conclusion, to make the system clear, even those who do not like the indicators that recalculate I have added a trend filter.
Time frame 5 min or higher.
Currency pairs: Majors and minors
Support and resistance ZZ
STI Obos oscillator.
Bands ( 5 min time frame 7 period , 15 min 6 period , 30 min or higher 5 period).
Tradig rules Smart Trader Indonesia System
The original rules are illustrated in the images below
The direction of trade is determined by the support or resistance.
Lines of support and resistance blue color below the price.
The Obos crosses upward.
The band below the price (signal buy in the corner of the screen).
Lines of support and resistance red color above the price.
The Obos crosses downward.
The band above the price (signal sell in the corner of the screen).
In summary the signal is generated when the intersections of the obos oscillator agree with the signal of the bands.
Exit position when an opposite signal is generated, profit on a key level or ratio stop loss 1.18. Stop loss on the previous swing.
In the pictures Smart Trader Indonesia System in action.
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