ch33z3's %R | Forex Indicator Download - MT4/MT5 Resources | MT4/MT5 Download - MetaTrader 5 Resources
Just come up with a new idea. Help me test back/forward. I only did a preliminary test on EURUSD.
index:
W%R(21)
Bollinger Bands (21) - Data based on W%R. Meaning, don't apply at closing. deviation=1
Time range: 1 hour
entry:
Long: W%R must pass through the lower BB line and the middle BB line.
Short: W%R must cross the upper and middle BB lines.
*When crossing, it must be completed within 3 zigzags. This means that the line should be as straight as possible. There is no /\/\/\ zigzag.
Trade the opening price after the next candle crosses the midline.
Exit: target price 25 points. Close 75% of trades. The other 25% use trailing stops or any other exit method. This means that you have 20 open lots and close 15 lots when you make a profit of 25 pips.
50 pips stop loss
When the trade reverses, close out the remaining 25%.
index:
W%R(21)
Bollinger Bands (21) - Data based on W%R. Meaning, don't apply at closing. deviation=1
Time range: 1 hour
entry:
Long: W%R must pass through the lower BB line and the middle BB line.
Short: W%R must cross the upper and middle BB lines.
*When crossing, it must be completed within 3 zigzags. This means that the line should be as straight as possible. There is no /\/\/\ zigzag.
Trade the opening price after the next candle crosses the midline.
Exit: target price 25 points. Close 75% of trades. The other 25% use trailing stops or any other exit method. This means that you have 20 open lots and close 15 lots when you make a profit of 25 pips.
50 pips stop loss
When the trade reverses, close out the remaining 25%.
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