Ozy
Last updated
Last updated
Indicators:
(48, close)
(3)
Key conditions:
This strategy is applied to timeframes of M15 and above, specifically for trading USD/CAD. The Stop Loss is set at 15 points, and once a trade gains 15 points, the Stop Loss should be moved to breakeven. Take Profit is set at 90 to 100 points. Repeated signals are only valid if the current open trade has already been moved to breakeven.
BUY conditions (all conditions must be met):
The price is above the SMA (48).
A downward correction occurs, reaching at least the lower line of Ozymandias, but the candle body does not close below the moving line.
Enter the trade when the next closed candle is no more than 10 points above the upper Ozymandias line.
SELL conditions (all conditions must be met):
The price is below the SMA (48).
An upward correction occurs, reaching at least the upper line of Ozymandias, but the candle body does not close above the moving line.
Enter the trade when the next closed candle is no more than 10 points below the lower Ozymandias line.
Exit criteria: Exit the trade when the Stop Loss or Take Profit is hit, or when a reverse signal is generated.
Open a chart with a timeframe of M15 or higher and apply the SMA indicator with a period of 48 (close). Add the Ozymandias indicator with a period of 3.
For a BUY trade, ensure the price is above the SMA, a downward correction touches the lower Ozymandias line without the candle body crossing it, and the next closed candle is no more than 10 points above the upper Ozymandias line. Enter the trade and set a Stop Loss of 15 points, moving it to breakeven after a 15-point profit.
For a SELL trade, confirm the price is below the SMA, an upward correction touches the upper Ozymandias line without the candle body crossing it, and the next closed candle is no more than 10 points below the lower Ozymandias line. Manage the trade similarly. Exit trades based on the specified conditions.
