DeMarker Metatrader 4 Indicator
DeMarker MT4 indicator oscillates between 0 and 1. Indicator readings above 0.7 suggest overbought levels. Readings below 0.3 suggest oversold levels.
BUY: In uptrends: Wait for the indicator to turn back above 0.3 from below.
SELL: In downtrends: Wait for the indicator to turn back below 0.7 from above.
Use in conjunction with trend analysis tools to determine the primary trend. Don’t use DeMarker against the primary trend.
GBP/USD Weekly Chart Example