Profitable Williams Percent Range Strategy | How to Use in Bollinger Bands Forex Scalping Strategy
Required timeframe: М15, Н1
When using this strategy you should take into account the overall state of the market and determine its current state. As you know, the market can have upward or downward trends or it can be flat. So, this strategy is designed for the sideways movement in the market; although it is not important to see the clear boundaries, it is just sufficient if the price moves in both directions for at least a week. It will allow us to open up to two transactions per day.
In this strategy both trend indicator and oscillators/flat indicators are used.
Setting of the indicators:
Bollinger Bands: period – 20, deviation – 2.
Williams’ Percent Range: period – 25.
RSI: period 5.
Let’s consider an example of opening a buy position.
In order to open a buy position you should wait for the moment when RSI and Williams will be in the oversold zone. If RSI crosses the line 30, wait for the confirmation from Williams – this indicator shall cross the line 80. At this moment the price shall be around the bottom band of Bollinger. At this moment you can open a position. Then, you should wait for the breakout of the middle band of Bollinger, as the price shall steadily overcome this level. If the price starts to “stall” near the resistance level, you shall lock in profit. If the price reaches the upper band of Bollinger, you should be ready to open the position, as soon as the Williams indicator does not cross the level 20 from top to bottom. Thus, you will manage to catch the entire “bullish” momentum.
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