Scalping forex strategy, fully based on williams oscillator (percent range). Indicator is used with two different periods. First one, filters out the trend. The second works as a signal and finds suitable entry points. Take profit is also based on oscillator. Strategy closes the trade once the opposite signal occurs.
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System was tested for profitability since 2003 (on 1H eursusd chart). It is provided with free expert advisor.
Used tools and indicators
Williams percent range (W 600). Trend filter. High calculation period is used.
Williams percent range (W 30). Entry signal. Signal completion is required to enter the trade. Opposite signal will close the existing trade in that direction.
MAX open trades (5): Scalping strategy allows opening multiple trades per market side at the same time. Use with caution, as it proportionally increases risk.
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Forex strategy rules
Williams filter trends below -50 line. Downtrend. Look only for short entry.
Williams signal rises above -20 line. Once it falls back below it, we enter the trade short on candle close, with stop loss of 100 pips.
Trade is closed in profit once long signal occurs (without considering the trend filter).
Williams filter trends above -50 line. Uptrend. Look only for long entry.
Williams signal falls below -80 line. Once it rises back above it, we enter the trade long on candle close, with stop loss of 100 pips.
Trade is closed in profit once short signal occurs (without considering the trend filter).
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Disclaimer: Expert advisor was tested for profitability on historical data. All screen shots provided are displaying real results of the test. However past data will never guarantee future success. Every expert advisor needs to be tested properly on demo account. LIVE use only on your own risk. Read full disclaimer. TheForexKings Team does not give any financial advice. TheForexKings does not take any responsibility for any user’s investments and investment decisions. All rights reserved. Strictly for personal use.