My approach centers around the utilization of the William Percent
Range strategy, complemented by a momentum indicator, to discern
optimal entry and exit points in trading positions. The momentum
indicator generates values within the range of 0 to -100. When the
market ascends above -20, it serves as a signal indicative of an
overbought condition, while a descent below -80 signals an oversold
market.
The execution of trading positions follows a specific set of criteria.
A buy position is initiated when the market moves above -80 towards 0.
Conversely, a sell position is triggered when the market descends
below -20 towards 100. This decision-making process typically involves
a lookback period of one hour.
In terms of managing trades, the take-profit levels are strategically
set at 10, 20, 35, 45, and 55. 70 Additionally, a stop-loss order is
implemented at 70 to mitigate potential losses. This comprehensive
strategy aims to capitalize on market conditions and trends, employing
a systematic approach to maximize profit potential while minimizing
risk.