Hello, these are some of the common questions other buyers ask in relation to Outside The Box trading system
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1. What do I do when the take profit zones/boxes appear?
This is an indication of price trending beyond the trading range. Therefore, you should either lock some profit or minimize the stop loss. Also, you can re-open a buy position after 2 candles above the buy take profit or open a sell position after 2 candles open below the sell take profit box. In this kind of re-entry, the SL should be below or above the respective take profit boxes.
When a White sell zone/rectangle displays, no nothing until a candle opens below the box when i is time to open a sell position. Similarly, if a YellowGreen buy zone forms open a buy only if a candle opens above the box.
At that point, it means the range is too small, wait for two candles to close above the take-profit before you make a buy entry. Alternatively, ignore that re-entry because the price may reverse any time. Same logic applies if the sell and buy re-entry boxes form close to each other OR when Sell re-entry and sell take profit overlaps.
4. Is the hot zones indicator the same thing as outside the box indicator?
Nope, it is a different kind of logic. The Hot zones tries to get the lowest point of entry for buys or highest entry level for sells. In your case, you could use it to make re-entries. Example, if the sell breakout trigger [on Outside The Box]is drawn, you could wait for the purple Hotzone area to form to sell again. For buys, after the buy trigger [on OTB] draws, wait for the green Hotzone to draw to buy. Depending on your targets, you can select the cheetah or Jumbo. Jumbo generates fewer signals while Cheetah gives many re-entries.
Are there any indicators that can work together with Outside The Box indicator?
What do I get after I buy? like buy 2for1? 😊
We extend our gratitude by giving a bonus to our clients from time to time. Check the indicator’s page for details ❤️. For the first 20 buyers, we are giving a free copy of Price Elevator> https://www.mql5.com/en/market/product/82760. The offer might stop after the period is over.
More Q/A will be included as more questions come up.