WPR Overbought Oversold Trading System is a trend momentum strategy based on the trend magic indicator. This system is for intraday trading.
Time frame: 30 min.
Market: Forex Majors, Index and Commodities.
Metatrader Indicarors:
WPR Overbought Oversold Trading System with alerts (4 periods),
Trend Magic,
Stochastic (2,3,3,),
Commodity Channel index (14) optional,
ADR1.
Trading Rules for WPR Overbought Oversold Trading System Trading System
Trade in the direction of the trend of the trend magic indicator.
Buy
When the Trend Magic line is blue color wait the green arrow of the WPR Overbought Oversold entry if Stochastic crossing upward.
Sell
When the Trend Magic line is red color wait the sell arrow of the WPR Overbought Oversold. entry if Stochastic crossing downward.
Exit position
Make profit at the level of the support and resistance, ADR and fibonacci pivot levels. Place initial stop loss 10 pips below/above the entry bar.
In the pictures WPR Overbought Oversold Trading System in action.
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