I would like to tell you about my strategy, which I have used for about a month. This strategy shows very good results and allows you to earn an average of 70-80%. I use three indicators for this strategy. The main objective is to determine when the market is overbought and sellers come to market, or vice versa, when the market is oversold and buyers want to enter the market.
In this strategy, I use three technical indicators: Bollinger Bands, Volumes and Stochastic.
The strategy works only for options with an expiry time of 5 minutes. For options with other expiration times, this strategy has not yet been tested.
I try to see, on the chart, if the price is outside the Bollinger bands and, at the time, is above 80 or below 20 of the Stochastic levels. If the Stochastic signals confirm Bollinger Bands, I'm waiting for the formation of the next candle to make the right decision. In addition, if the candle closes barely outside Bollinger Bands, I miss that trade.
The next thing I need is higher than the average volume bar. For those unfamiliar with the volume in the foreign exchange market, this item shows the volumes per one candle.
Note: I would not recommend this strategy for trade between 12 pm and 5 pm PST. The volume can be incorrect, as there is not much activity at this time.
Here is one example of trade:
This is an example of a good starting point for a put option. The bar closed clearly outside the Bollinger Bands and Stochastic is above 80 and has the highest volume bar in the last 20-30 candles