Intraday Trading Strategy

Intraday Trading Strategy

21 November 2017, 14:32
Dragan Drenjanin
0
22

This strategy is based on the use of two indicators: Williams Percent Range and Zig Zag. Trading operations are usually carried out within a day.

The main trading instruments are EUR/USD or GBP/USD.

In order to receive signals we will need the following settings for the indicators:

  • Zig Zag: Depth (60), Deviation (5), Backstep (3)
  • Williams Percent Range: Period (80)

Recommended timeframe: M30.

The level of take profit: 40 points.

The level of stop-loss: 18 points.

Short positions should be opened when the indicator Williams Percent Range approaches the zero level, while the Zig Zag reaches the higher price value, which will be the reversal and the signal to sell (Fig. 1).

Long positions should be opened when the indicator Williams Percent Range approaches the level of (-100), while the Zig Zag reaches the lower price value, which will be the reversal and the signal to buy (Fig. 2).


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