The Oma Channel Trading System is a forex trading system. It is very easy to use, this system falls under trend following trading systems. The Oma Channel Trading System has very few technical indicators making this system one of the simplest but yet effective. The most valuable benefit of this trend following system is that it can be used for trading various timeframes and currency pairs. Any trader can use this system, and if disciplined enough in following all the rules of the system, one can make lots of money from this trading system.
When you install Oma Channel Trading System in your trading platform, your chart should look like this:
There are two kinds of arrows used in this forex trading system. You can see pink and aqua color arrows. Pink arrows are pointed downwards while the blue arrows are pointed upward. Pink arrows indicate selling signal while the blue arrow indicates buying signal.
- Trend Strength Oma
Trend Strength Oma indicator consists of many oscillators but you can only focus on one to make your trading decisions. When this thick main oscillator is pink it indicates the market is down trending and when this oscillator is green this indicator indicates buying signal.
- RSI Filter
RSI Filter consists of blue and red bars. Blue bars indicate buying condition while the red bars indicate bearish market conditions.
Buying Conditions Using Oma Channel Trading System.
- Your currency pair should be up trending.
- A blue arrow should appear on the market.
- Trend strength oma indicator should be green.
- RSI filter indicator should form blue bars.
- Place your long positions as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when a pink arrow appears on the market.
Selling Conditions Using Oma Channel Trading System.
- Your currency pair should be down trending.
- A pink arrow should appear above the market.
- Trend strength oma indicator should be pink.
- RSI filter indicator should form red bars.
- Place your short positions as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when a blue arrow appears on the market.
Download Free Forex Oma Channel Trading System