Forex OMA Channel Scalping MT4 is another amazing trend following strategy which is combined with real powerful trend based indicators and fully equipped to provide assistance on short-term trade decision makings. Even though it has a quite tough look of its appearance but once you master it, your trading life may get easier than ever.
Forex OMA Channel Scalping MT4 is specially designed to forecast short-term price movements as correctly as possible. It can be applied in any timeframe in between 1 minute to hourly charts and suitable to analyze any forex currency pairs across the financial market.
Forex OMA Channel Scalping Strategy Overview:
After you finish installation of this strategy to your mt4 trading platform, you’ll find the charts as the following image:
|Time Frame||Currency Pairs||Indicator Factors||Ratings|
|M1 to H1||Any||5||9.8/10|
Forex OMA Channel Scalping Strategy Anatomy:
- TTM Signal Arrows: This arrow not only appears as trade signal but also represents the summary of whole strategic analysis by the system. Vertically upward/downward arrows are considered as trade signals.
- TTM Levels: This tool counts the pivot levels and assists to make trading decisions by plotting possible short-term support/resistance levels.
- Heiken Ashi: This is a well known trend based indicator which is plotted as main price bars. White bars indicate bullish trend and red bars signals bearish trend of the price.
- OMA Channel: OMA Channel is combined with another indicator named Trend Strength to identify the overbought and oversold condition with better accuracy and also helps to measure the trend strength level of current price action.
- Traders Dynamic Strength: This indicator works as an assistant of OMA Channel. It is used to make a better filter of trading signals. It is also combined with Average Daily Range to spot trade exit areas as well.
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Forex OMA Channel Scalping: Buy Parameters
- TTM Arrow in vertically upward direction
- Price is supported by TTM level
- OMA value rising above zero level
- Traders Dynamic Strength produces bullish crossover above 50 level
- Set stop loss below the TTM Arrow
- Exit the trade whenever price reaches the upper TTM levels and gets resisted to move further with bearish crossover of Traders Dynamic Strength
Forex OMA Channel Scalping: Sell Parameters
- TTM Arrow in vertically downward direction
- Price is rejected from TTM level to the downwards
- OMA value moving below zero level
- Traders Dynamic Strength produces bearish crossover below 50 level
- Set stop loss above the TTM Arrow
- Exit the trade whenever price reaches the lower TTM levels and supported by the respective levels with bullish crossover of Traders Dynamic Strength
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