EURUSD 1D WILLIAMS %R STRATEGY

The Williams percent R indicator or %R for short is a technical indicator that oscillates between the value 0 and -100. The Williams percent range indicator provides us with valuable information about the strength or weakness of a trend of a stock, commodity, currency pair, cryptocurrency or any other financial instrument that has attached to it a price.
Basically, the Williams percent range indicator is a powerful momentum indicator that can help you day trade any market in the world.
Williams percent range oscillator can be used in various capacities that can help us determine:
Momentum confirmations.
Overbought and Oversold readings.
Strength of the trend.
Potential buy and sell signals.
When day trading, you need to eradicate all the uncertainty around your decision-making process. This is why we have developed the Williams percent range strategy, a rule based system that will allow you to trade from a place of personal power.
The benefit of our day trading system is that it can be used with any market in the world.
Strategy #2: Day trading Momentum Burst with Williams %R Indicator
As an alternative to using the Williams percent R to identify overbought and oversold market readings, we have developed a way to catch momentum bursts that you will see on your charts every single day.
Momentum trading can offer you instant gratification, and the Williams %R trading strategy can help you satisfy those financial urges.
Let’s get into how momentum trading works using the Williams %R indicator.
Step 1 Add Williams %R indicator onto your chart with a 10 period length
We have also changed the oversold and overbought readings to -90 respectively -10.
Note: Make sure you use 10 periods for the Williams percent range oscillator.
Step 2 Draw a line at the -50 level on the Williams percent R indicator
The momentum strategy is developed around the -50 level.
For a visual representation, and to better and faster identify the potential trade signals, we add a line at the -50 level. The -50 level is the middle of the Williams percent range oscillator range. When the %R indicator crosses the -50 level, it signals a change in the momentum.
Step 3 Buy once the Oscillator moves from oversold reading and crosses the -50 level
There are two conditions that need to be satisfied before confidently buying.
First, we need to see the %R oscillator in oversold territory. We consider a market oversold if it shows a reading below the -90 level.
Secondly, we need to see the oscillator moving away from oversold territory and cross the -50 level from beneath.
This shift in momentum indicates that we can start looking for trade opportunities in the direction the oscillator crossed the -50 level. In our case, we’re looking to buy right away once the momentum oscillator breaks above the -50 level.
Step 4 For our exit strategy and stop loss management, we simply work with the trading range identified during the first step. In this regard, we place the protective stop loss below the support bottom of the range and take profit at the top resistance of the range.