OTG price action indicator V1.2. EX4 and explanation in my own words
Topic: OTG price action indicator V1.2. EX4 and explanation in my own words
regarding this OTG price action EX4, i have version 1.2 considered the latest version based on previous 1.0.. i will share it with you guys here after my thorough analysis on its functionality is mainly because i think this indicator could be useful to extremely short term player if you guys use M1 or M5 to trade ..
basically this is the workdone EX4 which i obtained from other sources and this is not my paid indicator, so credit still need to be given to the thread owner of forexfactory
so i will put the steps based on my analysis just now..
i highly recommending this indicator to be added into your indicator sets is because it easily gives you different patterns of candlestick like Marabozu, engulfing, insidebar and so on.
other settings remain unchanged .
1.) buy or sell based on colour (example, blue/green=buy, red=sell) continuously same colour , just stick to the first signal
2.) set tight cut loss point like 4-5 pips (if you use M1 like me)