What platform does Overbought work on?
The Overbought IO indicator was developed for MetaTrader 5 (free trading platform). Simply select AMP Clearing when you Open an Account with Optimus Futures and you will get free access to the platform and the Indicator.
Can I use the Overbought IO Indicator with a different broker?
Sure. Even though the Overbought IO Indicator is free for all Optimus Futures customers, anyone can simply buy it for $297 by clicking the BUY button on this page.
I am an existing customer. How do I get the Overbought IO Indicator?
I opened an account with Optimus Futures via AMP Clearing. When will I receive the Indicator?
Once your account has been approved and funded with a minimum of $2500, we will email you the indicator files and exclusive license key.
Is Overbought for Day Traders and/or for Swing/Long Term Traders?
The Overbought IO can be used on your preferred time frame and it automatically adjusts its parameters based on your chosen time frame. This indicator’s underlying algorithms takes into consideration the variables presented in your specific time frame. We considered the fact that different traders utilize different styles, time frames and risk management which is why Overbought is a multi-time frame trading system, offering a robust trading framework for different trading styles.
Can it be used on all instruments?
Yes. Overbought IO is an auto-adjustable trading system that automatically adjusts based on the volatility and the momentum of the market you are trading.
In contrast to conventional indicators, which are just using standard formulas to analyze price action, Overbought IO analyzes the individual market first and then adjusts the parameters. Its auto-adjusting algorithm recognizes the unique characteristics of each market and provides effective price analysis regardless of the market you trade. Having said all of the above, we highly recommend to trade liquid instruments with tight bid and asks.
Will Overbought IO work with conventional technical analysis?
Yes it will. We recommend you keep it as simple as possible though. Overbought IO implements a set of leading algorithmic calculations and by combining it with conventional chart analysis such as support and resistance and basic chart formations, you can easily build your own trading system.
How does Overbought derive its value?
The Overbought IO derives its inputs from calculations of volatility, range and price deviation. Whereas most conventional trading indicators and systems are static by nature, meaning they only work well in trend OR range markets, Overbought IO automatically adjusts based on the market environment and therefore allows you to trade in both trend and range market conditions.
Of course, there is no certainty in trading, and there is a substantial risk of loss in futures trading.
Can the Overbought IO be automated?
No. Overbought is a discretionary trading system. While we tried our best to create objective tools, no doubt that personal experience, risk tolerance and your risk capital will play a role in your success.
We believe that independent thinking leads to independence. While we appreciate the Expert Advisor (EA) approach, we wanted to provide a tool that may allow you to trade at your own pace and risk tolerance.
Can prices extend beyond the Overbought IO indicator?
Yes they can. They can move substantially above and below those levels at times. This can work for you and against you at the same time. This is why we advise you trade responsibility with strict risk management and not hold too many contracts
Can I also use Overbought IO as entry signal?
Yes. While Overbought can be used to help you ride trends longer, it can also help you identify reversal trades and get into new trends much earlier than most trend-following approaches can. You’ll learn about all the nuances of the Overbought trading framework with our complimentary study material.
What do I get in the Overbought IO package?
What you will get:
1. The Overbought IO MetaTrader 5 Indicator: With full Instructions on how to install and activate the indicator. Start using Overbought within minutes.
2. Overbought IO eBook: A Trading Course / Starter Guide with extensive study materials and examples on how to use the indicator when making trading decisions. Learn how to find entries, set stops, take profit and much more.
3. Access to our Video Archive: We walk you through live trade examples and show you how to find and place trades with Overbought IO and how to apply the concepts in your daily trading. We deliver the indicator with a complete set of instructions on how to install it on MetaTrader 5. It’s an easy process, and even if you are not technically savvy, you will be able to utilize it very quickly. And if you have questions and/or issues, we are more than happy to provide you with personal one-on-one support. When you purchase the Overbought IO framework, you not only get a powerful indicator, but we also provide general tips on how to set stops, how to choose targets, which risk principles you should apply and how to stay on top of psychological and emotional problems. In short, we want to help you become a well-rounded, professional trader.