Timeframe: 5-minute
Recommend pair: Any major pair
Indicator: William Percentage Range
Platform: MT4, TradingView
Long trade setup
Entry
The WPR should be near the -100 level. The -100 level is the oversold level. Wait for the price action to continue in the upward direction and then enter the trade.
Take-profit
Set take-profit at the recent high from the entry point or when the WPR reaches near the zero level.
Stop-loss
Place a stop-loss at the recent low from the entry point.
Example:
In the chart below, the WPR is in the oversold zone, signifying a potential long entry point.
Long trade setup
Short trade setup
Entry
The WPR should be near the zero level. The zero level is the bought level. Wait for the price action to continue in the downward direction and then enter the trade.
Take-profit
Set take-profit at the recent low from the entry point or when the WPR reaches near the -100 level.
Stop-loss
Place a stop-loss at the recent high from the entry point.
Example:
In the chart below, the WPR is in the overbought zone, suggesting a potential long entry point.
Short trade setup
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