163# Signal line with Stochastic

Submit by Roger

Signal line with Stochastic is a trend-momentum strategy for intraday trading, the e trend entries are filtered by stochastic oscillator, The pourpose of this strategy is the profit on the pivot points but this is relative is only my recommendation.

Time frame 15 min or 30 min.

Currency pairs: EUR/USD, USD/JPY, AUD/USD, USD/CHF, GBP/USD, GBP/JPY, USD/CAD.

Do not trade 22:00 GMT – 2:00 GMT

Metatrader Indicators

Moving Average in color 50 period, close,

Signal line 26 period, close,

LWMA 20 period, close,

Pivot points levels,

In subwindws

ken fast bar (optional),

Slow Stochastic oscillator (20, 3, 7) with Moving Average 10 period, close.

Trading rules

Signal line with Stochastic

Buy

Signal line green color.

MA in color green color,

Slow stochastic above ma line.

Place initial stop loss on the previous swing low.

Profit target on the pivot levels or when signal line change color red to green.

At 30 min time frame you can uses an approach aggressive:

signal line green color and stochstic > 50 (Max bars for entry signal is 4).

Sell

Signal line red color.

MA in color red color,

Slow stochastic below ma line.

Place initial stop loss on the previous swing high.

Profit target on the pivot levels or when signal line change color green to red.

At 30 min time frame you can uses an approach aggressive:

signal line red color and stochstic < 50 (Max bars for entry signal is 4).

After the R3 dot no trade long and after S3 do not trades short.

In the pictures Signal line with Stochastic in action.

Share your opinion, can help everyone to understand the forex strategy.