Williams%R, SAR X-over 15 Minute Candles

This strategies title started out for using the 15-minute chart and can still be used for the time frame but it was found to give good results by switching to the 5-minute charts. When you visit the Forex Factory Forum Thread you will see most of the images posted by the users are mainly 5-minute charts.

The strategy uses standard indicators that are found in the MT4 and MT5 trading platform.

  1. Williams %R with settings 16 with OB/OS Lines at 50
  2. Parabolic SAR with standard settings (alert indicator on page 3)
  3. 20 Simple Moving Average (SMA) added for a better signal

Forex Factory Forum Thread started by user Rocky Point ( a very good trader that has been trading full time since 2006). Rocky Point gives and shares his wisdom freely to help people that ask questions but every thing needed is in the thread.

Forum Thread Link


Please read the Disclaimer Page to fully understand the risks involved with forex trading and trading in general.


I trade this strategy from time to time. It is simple to follow and understand but you need to understand price action and trend strength. Rocky Point starts to take trades after the 15:00 hour time slot on the platform and from observing his trade images, and also from my platform, this is where there are good clearer signals.

The signal for entry is when there is a cross-over of the Williams %R that coincides with the candle crossing the 20 SMA and also PSAR change. Overall trend direction is needed for higher probability setups.

Best is to follow the regular posters on the thread as they share their chart images indicating their entries and exits.


My Opinion…

A good strategy when understanding how to use price action to identify a possible movement in the market. Worthy of following and a favourite of mine.

Regards

John

Leave a Reply

Your email address will not be published. Required fields are marked *