Effective Forex Trading Strategy. The Williams’ Indicator, also known as the Williams’ %R (Williams’ Percent Range), is a leading indicator created by Larry Williams to measure market momentum.
When applied to Forex, the Williams’ Indicator measures a currency pair’s trading momentum. The Williams’ Indicator is an oscillating technical indicator that can identify overbought and oversold conditions in a range-bound market.
Timeframe H1 and the 4 major pairs as EURUSD, USDCHF, USDJPY, GBPUSD.
- We BUY or SELL when the donchian indicator crosses the 2 fib lines.
- We put the stop loss at the latest swing high or low. We can use psar to help.
- The take profit should be the lines from the 9square. But I personally take the trend from the beginning at the cross and I go opposite at the cross in the other side.
So my trades never sleep. I’m in at every cross. I hope this will help.
The average of pips per trade is 250 pips. Sometimes we can expect 800 pips per trade.
The best advise I can give users is that if we get a signal on Friday night, don’t open the trade because we never know what will happen when market will open. Just wait on Monday.