Time Frame 4H, Daily, and weekly<\/p>\n\n\n\n
In this system, we defined both long and short entries as well as exit orders. We also did some setup work to calculate a 16-bar (16,5,3,)slow Stochastic with an overbought level at 70 and an oversold level at 30. The setups, entries, and exits are defined next.<\/p>\n\n\n\n
Setup<\/strong><\/p>\n\n\n\n a) Calculate a 16-bar slow Stochastic<\/strong>.<\/p>\n\n\n\n b) Set an Stochastic<\/strong> overbought level at 70.<\/p>\n\n\n\n c) Set an Stochastic<\/strong> oversold level at 30<\/p>\n\n\n\n Long Entry Position<\/strong><\/p>\n\n\n\n a) Check for %K to cross above %D in oversold territory (below 30).<\/p>\n\n\n\n b) Place a buy stop one point above the high of the setup bar. This buy stop will remain in effect for six bars.<\/p>\n\n\n\n Short Entry Position<\/strong><\/p>\n\n\n\n a) Check for %K to cross below %D in overbought territory (above 70).<\/p>\n\n\n\n b) Place a sell stop one point below the low of the setup bar. This sell stop will remain active for six bars.<\/p>\n\n\n\n Exit Order<\/strong><\/p>\n\n\n\n a) Once we enter a long position, we\u2019ll place a protective stop at the low of the setup bar; when we enter a short position, we\u2019ll place a protective stop at the high of the setup bar.<\/em><\/p>\n\n\n\n Profit Target 4H Time Frame 20-30 pips;<\/p>\n\n\n\n Profit Target Daily Time Frame 40-60 pips;<\/p>\n\n\n\n Profit Target Weekly Time Frame 180-220 pips.<\/p>\n\n\n\n Activate a move stop loss to entry point after 65% of the gain predetermined.<\/p>\n\n\n\n