I test the Daylight Trading Strategy by LauraT that has become a trending thread on Forex Factory. This system is a simple mechanical method that is great for beginner traders and those looking for a non-discretionary trading system.
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Link to thread by LauraT on Forex Factory https://www.forexfactory.com/thread/1086170-daylight-trading-strategy
Chapters:
00:00 – Introduction
00:59 – Indicators
01:45 – Rules & Examples
04:58 – Test
05:22 – Testing Results
06:06 – Find the Crumbs
System Specifics
Time Frame
H1
Indicators
pbfx_Williams %R
https://uk.tradingview.com/script/Bfdpu4DA-pbfx-Williams-R/
pbfx_Daylight
https://uk.tradingview.com/script/GSFfNSGQ-pbfx-Daylight/
ATR Bands
https://uk.tradingview.com/script/uTetNB3s-ATR-Bands/
Long Entry
Green MA over Red MA on main chart and daylight exists between them.
Price closes above Green MA on main chart.
Blue MA above the Red MA in the Williams %R Indicator.
Short Entry
Green MA below the Red MA on the main chart and and daylight exists between them.
Price closes below Green MA on main chart.
Blue MA below the Red MA in Williams %R indicator.
R:R
1:1 for ½ position.
Then move stop to breakeven.
Then target 2:1.
Where to place stop-loss
2 times ATR
#BeginnerTrading #TradingSystem #ForexFactory
⚠️Disclaimer: This content references opinion and is for information purposes only. Not intended to be investment advice.