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Consecutive Candles Williams %R and Volume with 55EMA Baseline 786 replies

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

Quoting rockypoint
Got up a little late today, wanted the unemployment numbers to come out, but who knew Fed would announce they would spend trillions to help economy. So Fx market essentially turned to chop. Took 3 all continuation trades, 1 win, 1 loss and 1 b/e. Behaved myself today and followed the system. My biggest enemy(trading wise) right now is boredom. Being stuck inside with no beach(closed) no gym(closed) has got my sleep patterns all screwed up. See I left result off of GBP/AUD which was +13. {image} {image} {image}
Initially you have traded as Williams broke 50%. Today you placed trades when Williams already crossed a while ago, but PA did touch MA10, newer thinking?
Do you trade the first 3 hours of the NY Session because of purely convenience of where you live and when you wake up? Or is there a reason behind those specific hours of trading? I'm assuming that you could use this strategy anytime during the entire London Session.
Quoting bojack34
Do you trade the first 3 hours of the NY Session because of purely convenience of where you live and when you wake up? Or is there a reason behind those specific hours of trading? I'm assuming that you could use this strategy anytime during the entire London Session.
bojack, he also trades london open...

I am drawn to this for only one reason...simplicity
Quoting rockypoint
Nope I wait for candle to close, as it appears early it can also disappear
Thanks very much for sharing your strategy
Driven, Max risk 1%. No I trade different lot sizes, anywhere from 1 to 5. large majority 1. If I trade a 5 that will be my only open trade.
No no new thinking if you just trade as it just breaks 50, you eliminate a lot of good trades. I don't use the williams%R Looking to sell or buy when it moves into o/b or o/s territory. I'm looking to ride price while it stays in os/ob. Pairs can stay at the top or bottom quite a while, so if you catch it before it hits there you have a lot of good trades.
Quoting rockypoint
No no new thinking if you just trade as it just breaks 50, you eliminate a lot of good trades. I don't use the Williams%R Looking to sell or buy when it moves into o/b or o/s territory. I'm looking to ride price while it stays in os/ob. Pairs can stay at the top or bottom quite a while, so if you catch it before it hits there you have a lot of good trades.
ok, more questions now....lol.

1) It sounds like you're entering trades OTHER than just when the W%R breaks the 50 and the SAR lines up too. What would be the "OTHER" credential for entry using this system?

2) If you are already in a trade (lets say LONG for example) and the W%R goes below the 50 W%R and closes. You would at this point close your trade. Would you immediately open up a trade in the other direction if everything lined up? Is there a point where you might close a trade and then re-enter in the same direction because the signals lineup again shortly after?
1) yes I am

2) there are situations where any of those could be a yes, Once you are in a trade price action and structure become the be all and end all..
I pretty sure I have posted trades where I took a ride up and a ride down and vice versa, or got out and then got back in with trend continuation. As far as W%R I probably have both exited and stayed in at the 50 again depends on price action.
Now back to poker tournament.
Quoting rockypoint
Now back to poker tournament.
Jealous! GL Sir! I play Tight, Aggressive........or Aggressive, Hyper Aggressive...lol. It has always done me good.
Quoting rockypoint
1) yes I am 2) there are situations where any of those could be a yes, Once you are in a trade price action and structure become the be all and end all..
TYVM!
  • Post #153
  • Quote
  • Edited at 5:59pm Apr 9, 2020 5:46pm | Edited at 5:59pm
Quoting rockypoint
Driven, Max risk 1%. No I trade different lot sizes, anywhere from 1 to 5. large majority 1. If I trade a 5 that will be my only open trade.
Will you ever consider switching back to 15 min charts or 5 min is IT?
Yes I would and if someone is more comfortable with 15min. or 1 min thats what they should use. This is framework up to you what you do with it.

Just started working on a 15 min. system with someone after trading some ideas. We'll see what happens.
Just drifting about took 3 trades just let them run while I caught up on emails. Small profit, if I was watching could've made a little more.
Attached Images (click to enlarge)
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Quoting rockypoint
Just drifting about took 3 trades just let them run while I caught up on emails. Small profit, if I was watching could've made a little more. {image} {image} {image}
somehow you manage to get in on those trades at the exact right time but yet the W%R had already crossed and the PSAR were already in place. It's very hard to learn someone's strategy when they are entering against their own rules. I'm trying my best to follow your entries and exits but they are sporadic. How did you manage to avoid all of those small candles and then know exactly when that big momentum candle was going to go off like that?
Ok I don't believe Ive ever said you enter at the arrow as the Williams%r crosses 50, they are triggers to look for entries. Last night was night before bank holiday so there were a lot of very flat movement meaning that there will be very few arrows and the Williams will generally stay on one side or the other of 50 for a long period. So how did I avoid all those small candles. I didn't. I don't spend huge hours watching charts. I pick a time and I trade that time. I don't even
sit watching the charts when I'm trading. If I'm using 5min. I check every 5 min., 15 min then every 15min. So I started trading at 11pm 10-15 mins, later these candles pop on Aud pairs The latest arrow are in my direction the Williams is on the right side, Price has Broken out of Consolidation so I take trades.

Nobody knows when a big candle is going to go off.

So I don't see how I'm entering against my own rules. If you want a pure black and white system then this isn't for you. If you want to make some money da trading//scalping you need some flexibility.. Indicators are there to provide an edge, not to make you money. What I'm showing you is how I use this system to trade. If you want to add more rules, to say well if a bullish arrow appears but Williams hasn't crossed the 50 within 3 candles or whatever then do so and trade
your rules. I've said it before this is a framework change to what ever suits you psychology and makes you comfortable.
Quoting rockypoint
Ok I don't believe Ive ever said you enter at the arrow as the Williams%r crosses 50, they are triggers to look for entries. Last night was night before bank holiday so there were a lot of very flat movement meaning that there will be very few arrows and the Williams will generally stay on one side or the other of 50 for a long period. So how did I avoid all those small candles. I didn't. I don't spend huge hours watching charts. I pick a time and I trade that time. I don't even sit watching the charts when I'm trading. If I'm using 5min. I check...
Ok duly noted. I was purely going off of the rules you posted on page 1 and some of the rules i've managed to gather along the way. You have to excuse me while I decifer your trading. You're right, there are no black and white rules, nor are the a list of rules for us to follow. So therefore I must ask a bunch of questions to find out why you do what you do. If we are to learn how to trade your straetegy we must know why you do what you do. It cannot be a guessing game for us or else it will not be beneficial. I'm doing my best to follow how you trade but when random stuff shows up I have to ask to make sure I understand the reasoning behind the trade.
Histogram version, maybe useful for someone

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File Type: mq4 WPR.mq4   4 KB | 159 downloads
Sorry, wrong file, still sleeping, here is histogram version

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File Type: mq4 WPR_Histo.mq4   10 KB | 199 downloads


Attached File
File Type: ex4 WPR_Histo.ex4   11 KB | 152 downloads
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