Here are the two indicators:
indicators.zip (7.45 KB)
I think this new system is more of an addition than a replacement to the trend lines.
It simply allows us to get more trades for the same amount of risk and time we put in.
That is my two pennies 
Thks Blizzard and Sandy.
I will test that.
Thanks. Hmm, whatâs the setting you guys put for OSMA Colour and ATR?
Q2: How do we read the Osma Colour indicator?
Q3: When Blizard mentioned the âdot outside BBâ which dot is he referring to? Last unconfirmed dot?
Thanks a lot sandybeach
And oh, I notice I have 3 BB lines on my chart. Which one do I read ?
Take a look below, the arrows are entries for buys and sells and the yellow stars are exits.
I think with any system there will be fakeouts, and with this new modification i noticed most fakeouts would happen when the currency pairs went quiet (overnight UK time).
Also since London is gearing up for the Queenâs Jubilee, monday and tuesday is a bank holiday here, coupled with it being a friday, im not suprised we have got fakeouts happening.
I think for this new addition we need to just trade when its most active, using the most active pairs. I think simply this may be a mon - thurs strategy.
I generally donât have much sucess trading fridays anyway, normally very little profit and a loss, just due to lack of movement.
Take a look at my last chart i posted, the dot must be outside of the edges of the bollinger bands, look at my arrows for entry.
Yesterday me and Blizard had a great day trading this system, so i think this does work, the only difference is we have to be more mindful of bank holidays and friday trading. But were have to see over the next few weeks how this addition does 
Blizard did you have any fakeouts today? I wasnât able to watch the charts this morning?
Also im thinking if slowness of the market produces fake trades, do major news alerts produce fake trades also ?
Anyone notice this?
Also Blizard your horizontal trend line idea works a treat saved me from a fakeout today
Ok i have had a look back at the past few days and i think the problem is due to lack of market movement.
I think this new addition is best for a mon-thurs approach. If we did not have the bank holidays on mon/tues i think it would of been good for some morning trading today, lets give this a few weeks so we can spot the best and worst times for trading it.
I think to be fair it should be trade the same hours as the original strategy, which Blizard was doing the London session (0800 - 1700) GMT and i do (0900 - 1600).
Blizard do you trade fridays ?
Ok got my weekends mixed up, NOT bank holiday mon/tues in London, sorry.
But i think the lack of friday movement still generated the fakeouts.
Is there any way I can zoom at the picture you uploaded? Cant seem to enlarge itâŚ
Thanks sandy! Sorry for the troubles but now I can see it clearly.
I noticed that from the chart, you did not immediately enter your trade after the dot is outside the BB? Why so? You waited a while before you enter your trade.
Another question is, Blizard mentioned about Exiting when price crosses ATR stop Loss Line. I dont quite understand this part and I Cant seem to notice your ATR line. Which colour is it?
Hoping for your reply. Thanks
What i was doing was:
- Wait for dot to appear outside of the bollinger bands
- If selling then the current OsMA colour must be light green. Wait for 1st dark green bar. The on 2nd dark green bar enter a sell.
- Close when you get two red dark bars which should come after light green bars or close at your prefered stoploss.
Just do the opposite for a sell
Like all systems it takes practice and i dont think its fair were trading on a friday and being suprised at the trades going badly.
But do watch charts on fridays !! With the OsMA its interesting, i am getting to see when things screw up. Also if you donât get two dark green bars after a few bars of the dot appearing dont enter.
We could be more conservite and only enter when there are three dark green bars, but i think this is too restrictive.
Logic says this works great mon - thurs, so were have to give it next week. In my books if it does well all next week then i believe this is a good addition and we should trade with either strategy or both (which is what i plan to do).
Also guys forgot to mention with everything that is happening with Greece and the Euro this is making the markets more bizarre than before from what i have heard from the pro traders.
But lets get our entries and exits sorted by end of today so next week we can all forward test it.
Since me and Blizard got very similar results in the range of about 10 pips difference in profit, i will be interested to see how you guys get on, but ask me in a week if i will def trade this
(i think so 
)
I see. So for the âbuyâ, we should wait for red/marron colour bars at OsMA? Because in Osma, there are 4 colours, so I assume, red/Marron stands for buy if the green/light green is for sellâŚAm I right?
And oh, the "dotâ you referring to is LAST unconfirmed dot or CONFIRMED dot? Thanks again! :7:
Yes the green is the strength of the buy, bigger bars, the more strength buys have, red sellers. So we want to try to buy at the point we think the sellers will loose steam and buys take control. Hence why we look to buy after we see the dot appear.
We need more practice on this next week. But i would recommend trading during the London or US sessions or both. I only do London session, but i watch the US one as well as i am a newbie, just London is more 0900 - 1700 so better for me personally.
yes last unconfirmed dot