Ozymandias - MetaTrader 5 Script | Forex Indicator Downloads - MT4/MT5 Resources - MetaTrader 5 Resources
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Ozymandias is a well-known indicator that filters out false price movements.
The indicator displays a blue-red line around the price range. There is also a price band that shows whether the market is oversold or overbought. Colored lines show average price values in sequence. The blue line means you should look for entry points to buy (only if the market is not overbought). If the color has changed to red, then you should open a short position (if the indicator does not indicate an oversold market).
Please note that the Ozymandias indicator can only be used to determine the appropriate time to exit or enter the market. Trend changes in this indicator are not signals.
Figure 1. Ozymandias indicator
Attachment download
📎ozymandias.mq5 (10.09 KB)
Source: MQL5 #12542
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