Whether you have ever closed a trade just because one or two candles moved against your position and you lost confidence in it? Probably, yes. The prices on Forex never move exactly down or up.
There is always a market noise which distracts and disorients traders, especially newcomers. An accurate Forex indicator called Ozymandias allows to filter out the market noise and allow staying in the trade as long as possible. Now we are going to talk about it.
What is Ozymandias indicator’s goal?
What is the way to trade while using Ozymandias Forex indicator?
Ozymandias indicator tracks market trends with the absolute reliability while ignoring the sharp fluctuations and market noise.
- Amazingly easy to use in trade
- Finds oversold/overbought points
- Gives you an opportunity to always calmly trade without the market noise impact
- Allows to avoid sharp turns on intraday charts
The indicator is suitable for trading on small timeframes since it ignores sudden price jumps or price movement correction due to the market noise decrease around the average price.
Increase your trading activities efficiency and be stable at a time when all is unstable.
The way to trade while using Ozymandias indicator
Indicator’s work structure and principle
Ozymandias indicator shows a colorful band surrounding the price range. The colorful band represents the average price’s value of a currency pair and the price band shows the overbought/oversold state.
If the average price is blue, you should look for the points to open longs when the market is not overbought. If the average price is red, you should look for the points to open shorts when the market is not oversold.
The trend change on the indicator is not a signal for immediate enter the market! The bars are used to select the time to enter.
There are lots of strategies which can be developed while using Ozymandias indicator. Reversal system – the simplest of them – is used when the closing price breaks the average price or bands, which avoids entering the market during the sudden occurrence of a non-market quotation or correction in case of sudden price movements in the market.
The rules can be summarized as follows.
It’s better to buy during an uptrend when the price reaches the average or oversold and sell during a downtrend when the price reaches an average or overbought price. This simple strategy will help you to minimize your losses when the market is flat or unstable.
Nevertheless, you can create your own trading strategies. The trade should be carried out inside the band or close to the average price’s value. Almost any indicator can be useful in combination with Ozymandias indicator without changing the amplitude, while the main price movement is isolated from market noise.
In addition, it’s possible to configure the entry strategy while using such other components of the price movement as the Price Action patterns or other indicators depending on your wish. Just do not buy above the overbought level and do not sell below the oversold one.
Frequently asked Questions
- Whether Ozymandias is always a market indicator?
No. If the price chart is below the upper band, it’s necessary to open longs. In case if the price chart is above the lower band, there should be opened only shorts.
Trend direction changing does not mean you should start trading right now! The indicator partially eliminates the market noise. It is necessary to wait until the price approaches the average price value before opening a trade or closing an open one.
- Where is it necessary to place stop-loss and take-profit?
The indicator does not show stop-loss or take-profit levels placement.
- The indicator looks perfect. Are you sure it will not let you down?
The current indicator never let people down. Test it please on a demo version to make sure it gives the right signals to enter the market before working in the real one.
- What are the indicator’s parameters?
In fact, this indicator has only one parameter to be set – the amplitude. More information about this variable is described in the video at the review’s start.
Ozymandias Forex indicator is installed according to the standard scheme. Nothing difficult. Pairs and timeframes can be any.
Do not forget Ozymandias indicator can’t be used alone, without filtering. This indicator can serve as an addition to your own forex strategy or a basis for a new system creation.