Day Trading with Williams Trade

William trade's update concerns the way of using the indicator in the sense that it is interpreted as trend following. The proposed setting is for the 5 minute time frame.

Strategy Setup

Time frame 5 minutes.

Currency pairs EURUSD, GBPUSD, AUDUSD, NZDUSD, USDJPY.

Sessions: London and New York (GMT Berlin 9:00 - 20:00).

Metarader 4 indicators

Williams Trade period 120

Pivot Point Levels

Symbol Change.

Trading Rules

Buy

William Trade in subwindow light blue line > green horizontal line.

Sell

William Trade in subwindow light blue line < red horizontal line.

Please note that the arrow does not appear to appear because there is an error in the code, so always refer to the light blue line of William Trade.

Exit position

Stop loss

15-20 pips or above below a Pivot level.

Profit Target: 15-20 pips, at a Pivot level or when the WT line generates the opposite entry.

Williams Trade introduces a new approach focusing on trend following. This strategy is tailored for the 5-minute time frame and employs specific settings and guidelines.

Strategy Configuration:

Time frame: 5 minutes.

Currency pairs: EURUSD, GBPUSD, AUDUSD, NZDUSD, USDJPY.

Trading Sessions: London and New York (GMT Berlin 9:00 - 20:00).

MetaTrader 4 Indicators

Williams Trade period: 120.

Pivot point levels.

Symbol Change.

Trading Rules:

Buy

Enter when the Williams Trade indicator's light blue line in the subwindow is above the green horizontal line.

Sell

Enter when the Williams Trade indicator's light blue line in the subwindow is below the red horizontal line. Note: Due to a coding error, the arrow indicator may not display correctly; therefore, rely on the position of the light blue line of the William Trade indicator.

Exit Strategy

Stop Loss: Set at 15-20 pips or above/below a Pivot level. Profit Target: Aim for 15-20 pips, exit at a Pivot level, or when the Williams Trade line indicates an opposite entry signal.