151 # Momentum Plus – Make 200 pips a day
Momentum Trading
Return from overbought and oversold trading
Submit by Joy22
Momentum plus is a momentum-only strategy based on the return from extreme areas of the CCI E W% R oscillator.
In other words, the signal is generated when the CCI after touching or exceeding the level of 260 + - returns to the level below 100 + -.
The Momentum indicator is used for further confirmation.
Setup Strategy
Time frame intraday 15 and 30 minutes minutes
Swing trading time frames H1 or above.
Currency pairs: any.
Platform: any.
Indicators setup
CCI 20 periods., close.
W%R 14 periods, close.
Momentum 10 period, close.
Buy
CCI oscillator touches or is less than - 260 and returns greater than -100.
W% R oscillator less than -80 returns> -80
Momentum> 0 when the CCI is not confirmed by the W% R oscillator.
Sell
CCI oscillator touches or is less than + 260 and returns less than +100.
W% R oscillator greater than -20 returns< -20
Momentum< 0 when the CCI is not confirmed by the W% R oscillator.
Exit position
Place initial stop loss at the previous swing High/Low.
Make profit with ratio stop loss minimum 1:1.2.
Note: To day trade with this strategy you need to open at least 8 charts or more.
Examples of trades
