81# Daily Box with Obos Zone
Obos zone ( RSI, Stochastic oscillator).
Support and Resistance filtered by Momentum
Daily Boxes with Obos Zone is a price action ( support and resistance forex strategy) filtered by momentum. This trading system is based on the Buy Sell zone indicator that draw on the chart support and resistance zones. Box support blue color is buy area, box resistance red color is sell area filtered by Obos zone indicator (that is formed by overbought and oversold of stochastic and rsi).
This is an intraday strategy. Time frame 15 min, 30 min, 60 min.
Currency pairs: any.
Metatrader 4 indicators setting:
Buy Sell Zone mq4 indicator.
Pivot points level TZ pivots.
Obos zone (RSI 2, Stochastic oscillator 6, 3, 4).
Trading rules Daily Box with Obos Zone
Place a pending order 2 pips above box support.
Conditions: the price penetrates more than half of the support area box and then the price breaks the box upwards.
RSI from the zone of oversold crosses upward the lines of the stochastic.
Place a pending order 2 pips below box resistance .
Conditions: the price penetrates more than half of the resistance area box and then the price breaks the box downwards.
RSI from the zone of overbougth crosses donward the lines of the stochastic.
Place initial stop loss above/below the boxes zone. Profit target ratio 1:1.1 stop loss or at the levels of pivot points.
In the pictures Daily Box with Obos Zone in action.
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