Forex Chaos Oscillator
Forex Chaos Oscillator
Chaos Oscillator is a forex trading indicator. Chaos Oscillator is a very simple and use forex trading indicator. This indicator cannot be used alone to make trading decisions but it can be combined other trading indicators to generate trading signals. Other indicators such as moving averages and Parabolic SAR can be used to spot the signal generation and this indicator can be used to verify those signals. A trading strategy is complete when all the aspects of the market are covered. All the aspects here mean trend, volatility, momentum, etc. Traders can try several indicators with this indicator and should use which is best for them.
Chaos Oscilltor
Chaos Oscillator comprises of vertical lines of blue and brown color. The blue bars indicate bullish market conditions while the brown bars indicate selling pressure. Therefore, you should first identify the market trend and buy when these bars are blue and sell when the bars are brown.
It is up to the traders on the amount of money they can make out of this forex trading indicator.
Buying Conditions Using Chaos Oscillator.
Market should be up trending.
Market should be bouncing from the recent swing low.
The Chaos Oscillator should form blue bars.
Place your long position as soon as above conditions are met.
Place your stop loss just below the recent swing low.
Take your profit when the bars turn dark brown.
Selling Conditions Using Chaos Oscillator.
- Market should be down trending.
- Market should be falling from the recent swing high.
- The Chaos Oscillator should form brown bars.
- Place your short position as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when the bars turn blue.
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