Most trading strategies recommend at least a 1:2 risk reward ratio. As smart as that may sound, most traders still fail to make consistent profit using such strategies.
I am about to share something different from the popular.
The setup for this strategy looks like the image below:
The indicator is a multitimeframe indicator (Smooth oscillator) CLICK HERE TO DOWNLOAD
For trading this strategy on the H4 timeframe, set the oscillator timeframe to D1(Higher time frame) and the second should be set to 0 (current timeframe). The introductory examples are for trading this strategy on a H4 time frame.
For trading this strategy on the H! timeframe, set the oscillator timeframe to H4(Higher time frame) and the second should be set to 0 (current timeframe).
For trading this strategy on the D1 timeframe, set the oscillator timeframe to W1(Higher time frame) and the second should be set to 0 (current timeframe).
NB: I am trying to create an EA based on this exact logic and I will keep everyone posted
I am about to share something different from the popular.
The setup for this strategy looks like the image below:
The indicator is a multitimeframe indicator (Smooth oscillator) CLICK HERE TO DOWNLOAD
For trading this strategy on the H4 timeframe, set the oscillator timeframe to D1(Higher time frame) and the second should be set to 0 (current timeframe). The introductory examples are for trading this strategy on a H4 time frame.
For trading this strategy on the H! timeframe, set the oscillator timeframe to H4(Higher time frame) and the second should be set to 0 (current timeframe).
For trading this strategy on the D1 timeframe, set the oscillator timeframe to W1(Higher time frame) and the second should be set to 0 (current timeframe).
NB: I am trying to create an EA based on this exact logic and I will keep everyone posted