Ozymandias Indicator: Eliminating Sharp Fluctuations and Market Noise
Ozymandias indicator tracks market trends with absolute reliability, ignoring sharp fluctuations and market noise.
Description of the Ozymandias indicator
The Ozymandias indicator displays a colored line surrounding the price range. The colored line represents the average price of the currency pair, while the price bar represents the overbought/oversold condition. If the price average is blue, you should look for entry points to open long positions when the market is not overbought, and if the price average is red, you should look for entry points to open short positionswhen the market is not oversold.
Rules for using the Ozymandias indicator
You should buy during an uptrend when the price reaches average or oversold and sell during a downtrend when the price reaches average or overbought. With this simple strategy you can minimize your losses when the market is in flute or is unstable.
- If the price chart is below the upper band, you should only open long positions.
- In case the price chart is above the lower band, only short positions should be opened.
A change in trend direction does not mean you have to trade right away! The indicator eliminates market noise, but not completely. You must wait until the price is close to the average price before you open or close an open position.
According to ForTrader.org experts, Ozymandias indicator is suitable for trading on small timeframes because it ignores sudden price spikes or price movement corrections due to the reduction of market noise around the average price value and can be used as a filter in existing trading systems.