Daylight Trading Strategy | Forex Indicator Download - MT4/MT5 Resources

Hello everyone,

When I published the roadmap (https://www.forexfactory.com/thread/...o-read-markets) I realized that this was a strategy that required quite a bit of discretion/judgment.

I still get a lot of messages from people who have successfully traded using Roadmap, which is great. However, I also want to offer one of my other strategies for those who might prefer a rules-based approach.

Welcome to Nikko.

This is a strategy with clear entry rules, diverse exit options, and no non-standard indicators. I'll walk you through how to set up your chart and provide a template for anyone who needs it.

But first, let's look at a typical chart.



As you can see from the table above, we are using Williams %R, but we are using it in a non-standard way. We actually hide the normals and instead apply a smoothed 8-period MA and a smoothed 21-period MA to the data.

Additionally, on our main chart we have a 5-period smoothed MA and another 5-period smoothed MA with an offset of 5.

That's all you need to get started.

There is a template attached below, and in my next article I will fully explain the strategy, including entry criteria and exit options. I've also included a link to my journal which contains some posts you may find generally useful.

https://www.forexfactory.com/thread/...just-a-journal



Edit 8/6/21 - TradingView script created with good intentions: https://www.forexfactory.com/thread/...9#post13580699

EDIT 8/6/21 - Aggressive hourly version: https://www.forexfactory.com/thread/…6#post13574046

EDIT 9/6/21 - Dashboard/scanner friendly creation: https://www.forexfactory.com/thread/...ight-dashboard

Edit 9/6/21 - Aggressive version - 15m timeframe: https://www.forexfactory.com/thread/...6#post13576116

EDIT 11/6/21 - Use -50 as trend filter (standard mode only): https://www.forexfactory.com/thread/...2#post13579942

EDIT 14/6/21 - Show arrows on chart when WPR crosses: https://www.forexfactory.com/thread/...2#post13582992

EDIT 15/6/21 - Independent-50 Strategy: https://www.forexfactory.com/thread/...9#post13583849

Edit 24/6/21 - MTF dashboard version: https://www.forexfactory.com/thread/...2#post13598352

Edit 21/3/7 - Added ThinkOrSwim indicator: https://www.forexfactory.com/thread/...5#post13610915

EDIT 21/3/7 - Fast moving average moving into trend: https://www.forexfactory.com/thread/...2#post13611262

EDIT 26/7/21 - Multiple timeframe analysis to find trades: https://www.forexfactory.com/thread/...2#post13634752