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Attachments: Williams%R, SAR X-over 15 minute candles
Exit Attachments

Williams%R, SAR X-over 15 minute candles

Because I don't normally trade GBP/JPY. I opened trading platform at 5:20 G/J is not 1 of charts that opens with my workspace. So did not open this chart till 6 and tried entry on slight pullback.
No Thjw not correct.

You are looking for Sar to flip from Either above to below or below to above for possible entry confirmed by Williams %r crossing below 50 for short or above 50 for long. Do not use them for stop losses, though I guess you could I use swing hi/lows.
Quoting rockypoint
No Thjw not correct. You are looking for Sar to flip from Either above to below or below to above for possible entry confirmed by Williams %r crossing below 50 for short or above 50 for long. Do not use them for stop losses, though I guess you could I use swing hi/lows.
1. Wiliams %R crossed above 50
2. SAR is below price bar
3. Go long

is this correct?
Thanks
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yes
Quoting thjw
{quote} 1. Wiliams %R crossed above 50 2. SAR is below price bar 3. Go long is this correct? Thanks {image}
Hi thjw,

Just to point out that Williams % R should be -50 (negative 50). Crossed above -50 is buy and crossed below -50 is sell. Correct me if I am wrong.

Roy
Does anybody have an Williams %R indicator that shows an arrow in the chart when -50 is broken?
Traded a little but I'm done tired. Spent a few hours with the electricians today showing them how I wanted new service panel wired. Mexican code is way to lax.
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NY open should be interesting with non farm payroll numbers coming out but I'll wait for the dust to settle before trying to trade. Tomorrow have to deal with a bunch of appliances being delivered and installed.
Quoting kofix11
Does anybody have an Williams %R indicator that shows an arrow in the chart when -50 is broken?
Hi, Not something I have seen around. Modified this older indicator by removing the rsi component, hope it does what you are looking for.
Attached File(s)
File Type: mq4 WPR_signal6SoundAlarmf.mq4   7 KB | 1,188 downloads


Kind Regards,
K
"Only you can Make the Future you will be proud to be a part of..." -Me
Quoting tzamo
{quote} Hi, Not something I have seen around. Modified this older indicator by removing the rsi component, hope it does what you are looking for. {file} Kind Regards, K
Many thanks! :-)
Quoting kofix11
Does anybody have an Williams %R indicator that shows an arrow in the chart when -50 is broken?
I did not find any with arrows, but there is one with a possibility to put the Williams %R on the chart. Enable only the midline on the chart and that will show the -50 cross.
You can find it here: https://www.mql5.com/en/market/product/34968

In case you need something to put arrows when there is a PSAR signal you can use this indicator (enable only SAR and disable the other 14):
https://www.mql5.com/en/market/product/30471#

Regards
how to set TP/SL ?
Quoting noorani
how to set TP/SL ?
All is explained in the pages of this thread
  • Post #74
  • Quote
  • Edited 10:15am Apr 3, 2020 10:04am | Edited 10:15am
Rocky, simple little technique...got me back into scalping(not sure if it is good or bad )

You are showing your entries and exits.

I know you trade NY open say starting 8am EST till 11am

Few questions:

1. Do you take every entry(after consolidation)

2. How do you deal with ranging markets? How soon do you cut positions if it does not go your way or you always wait for SL above/below the swing?

3. Can you show some of the positions you took and cut in the ranging markets? Chart below shows ranging market...
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Hi,
This is a nice simple working strategy.
Here is the PSAR that I use.
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Attached File(s)
File Type: ex4 parabolic sar (mtf) 2.01.ex4   37 KB | 760 downloads
File Type: mq4 parabolic sar (mtf) 2.01.mq4   12 KB | 915 downloads
Driven18,

1)no I do not take every entry after consolidation. I usually try to keep my trades to the weakest/strongest currencies. Use a currency strength meter tons of apps available for android. I'm not a phone guy, so I use fx power indicator at trading strategy guide,co under free tools tab. I check 4hr, 1hr and 15min readings.

2)Ranging markets, you need to be ruthless. Tighter stops and tighter take profits.

Here's my 2 trades this morning, in spite of news FX markets are very flat. If you trade Cad pairs it should be an OK day. I don't so not so much. Honestly kind of stupid trades. I was inclined to stay out of market but in the end traded just to trade. Which is something you should avoid.
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Quoting rockypoint
Driven18, 1)no I do not take every entry after consolidation. I usually try to keep my trades to the weakest/strongest currencies. Use a currency strength meter tons of apps available for android. I'm not a phone guy, so I use fx power indicator at trading strategy guide,co under free tools tab. I check 4hr, 1hr and 15min readings. 2)Ranging markets, you need to be ruthless. Tighter stops and tighter take profits. Here's my 2 trades this morning, in spite of news FX markets are very flat. If you trade Cad pairs it should be an OK day. I don't so...
Thank you for your answers..I just wanted to show rookies that it is not as easy as 1-2-3...there are nuances involved...
Quoting driven18
{quote} Thank you for your answers..I just wanted to show rookies that it is not as easy as 1-2-3...there are nuances involved...
Why do you need to look at 4HR or 1HR Readings if you trade 5 min charts? Why do you care what was power reading 4 hours before?
There is no holy grail, there is no system where you should take every signal. Black box trading ultimately doesn't work. Its why almost all EA's don't work.
There is no substitute for knowledge, discipline and understanding your trading psyche.
Quoting driven18
{quote} Why do you need to look at 4HR or 1HR Readings if you trade 5 min charts? Why do you care what was power reading 4 hours before?
Its important to know bias, i trade hourly of h4 remember. It gives better odds of success
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