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Onsen FX Algo

For anyone that wants to trade the FX Market like a professional

Introduction

Using this tool, we may have various types of opportunities and set ups based on session, specific time and hour either swing or session trading. Please keep in mind, forex is a much complex market. Traders have to work with a few pieces of information before setting a bias. Let’s say, USDJPY is respecting the round number and previous days H&L but that does not mean that every single pair has to respect the same order. EURJPY may be rejecting the previous week’s low, or encounter fractional disparity.

To best use this institutional price action, I suggest studying BTMM (beat the market maker) price actions, ICT Price actions, and Stacey Burke Trading from YouTube. I do not have any affiliates with them.

I will be using exhausted volume and Buy/Sell Order tool together with my strategy. You can use other Zeiierman’s or Z’s indicators that suit you most.

I am not giving any financial advice here. Merely sharing some of my knowledge. Finally, thanks to Z to help us build this indicator.

Full Version

  • You find the complete strategy in Discord. Go to #general – currency and click at “pinned messages” in the upper right corner. You will find a PDF which explains the strategy and the settings.

Examples Trades

#1 AUDJPY Short

Bias behind it: price was above the previous week’s high and show weakness to continue the bullish momentum and created a Doji candle at the top, which is also an exhausting volume candle. The high of the wick was also the high of the Daily ADR, therefore, it is very unlikely the price will continue going up. So, a few confluence has taken place such as Doji above the weekly high (weakness of price), Exhausted volume at the peak, completed daily ADR.

For extra confirmation, we use Zeiierman’s any other indicators that suit our trading style. Here, the example is given with Buy/Sell order expo. The indicator is also implying that selling pressure. Once the candle close, we short the market and aim for the nearest low as our potential TP. Any Onsen FX Algo will give a minimum 3:1 reward to risk for any trade entry. In this case, 5:1 with a minimal SL to around 15 pips

#2 NZDUSD Long 

Bias Long: Price was dropping since the previous’s day’s Asian session and created a Doji candle at the London opening’s first two hours. The low of the wick was also the low of the Daily ADR. Since price traveled the daily ADR during the first hour of the London session, therefore, it is not wise to participate in shorting the market. We have a few confluence here to enter long in this case. Price created a Doji at the daily ADR low, the price was below yesterday’s low and weakness from the selling sides if we look at the bear candles.

Furthermore, for extra confirmation, we use Zeiierman’s any other indicators that suit our trading style. Here, the example is given with Buy/Sell order expo. The indicator is also implying that buying pressure. Once the Doji candle close, we longed the market and aim for the nearest high as our potential TP. Any Onsen FX Algo will give a minimum 3:1 reward to risk for any trade entry. In this case, 5:1 with a minimal SL to around 15 pips.

#3 NZDUSD Short

Bias Short: Onsen Fx Alg0 is very dynamic. It works at any time frame. Based on the trading style and the market condition, it gives trade bias for session traders, intraday, or swing trading. In this case, the market shows a pronounced short opportunity. When the price reached the peak, which is also high of the daily ADR, and created a couple of Doji candles or tweezers top. Note that, exhausted candles also appeared at the top that indicates the weakness of the uptrend. Notwithstanding, exhausted volume (tweezers top), wick rejection at the ADR highs are giving enough confidence to short the market.

Moreover, for extra confirmation, we use Zeiierman’s any other indicators that suit our trading style. Here, the example is given with Buy/Sell order expo. The indicator is also implying that selling pressure. Once the Doji candle is closed, we short the market and aim for the nearest low as our potential TP. Any Onsen FX Algo will give a minimum 3:1 reward to risk for any trade entry. In this case, 3:1 with a minimal SL to around 20 pips.

Disclaimer

Copyright by Zeiierman.

The information contained in my scripts/indicators/strategies/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.

All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.

My scripts/indicators/strategies/ideas are only for educational purposes!