85# Stochastic MTF Forex Strategy
Stochastic Trading Method
Submit by joy22 (tsee manual)
Entry Rules
Wait for the M15 Stoch Crossing signal (indicated by a fractal symbol, this is just a
symbol and not a fractal indicator). You can see that it is in lime color and pointing
up.
2. The HMA4 must be in the same direction as the Stoch Crossing below it. It becomes
dodgerblue in color.
3. There must be a minimum of 3 (three) MTF Stochastic Oscillators, the M15 along
with any two of the M30, H1 and H4 time frames, in the same direction with point 1.
4. The Williams’ Percent Range Indicator must be close to and below the -10 line. If it is above the -10 line, wait for it to close below the -10 line.
5. If all conditions above are met, then enter the trade at the closing price of the current bar or the opening price of the next bar.
6. Place the stop loss 40 pips away from the entry price.
7. I place a take profit sometimes, usually when I can't monitor the price movement
(when I need to leave the monitor). I use the daily pivot support/resistance line to
determine this level.
8. Exit the trade if the WPR comes to the "overbought" zone which is above the -10
level.
9. Exit the trade if the M15 Stochastic has crossed into the overbought area (above the
-10 level) and ready to cross back down.
-
Exit at the Pivot daily support/resistance line.
-
Sell opposite conditions
In the picture Stochastic MTF forex system in action.
Stochastic MTF Strategy
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Write a comment
VICTOR G (Tuesday, 07 May 2024 16:12)
Thanks allot. I find this very useful