15-Minute WPR & STO Multicurrency Trading Strategy: Combining Candle Formations With Overbought/Oversold Signals For Scalping & Day-Trading Forex
Strategy WPR & STO Multicurrency is a trading system that can work both in a flat and in a trending market. It works on the 15-minute timeframe and is suitable for most currency pairs.
The strategy is implemented using the Williams’ Percent Range (WPR) and Stochastic indicators. You can download these indicators on our website in the Indicators section.
Conditions for a long position
If these conditions are met, a long position is opened.
Conditions for a short position
For short positions, the same conditions, but with the opposite values.
After the second candle is closed, a sell deal is opened.
Stoploss and Takeprofit
Stoploss is set at a maximum of two candles for a short position and at a minimum for a long position.
TakeProfit is set at a distance of three times the size of the stop loss.
By adding a good risk control system to the WPR & STO Multicurrency M15 strategy, good results can be achieved. This strategy can be attributed to scalper systems since the average position retention time is small. Applying it to many currency pairs, you can get a good amount of signals and a high-quality result.
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