A great name “ Wid’s Hybrid Trading System” could mean a great system? I hope so. You may want to use this in your own trading. First of all, I would want to share with you what are rules for this trading system. Time Frame is 4Hr,Trend identification is at 4Hr and TF,Entry will be made at 1Hr TF.
First, you must identify the direction of the trend at 4HR and Daily timeframe. Both of these timeframes should be in the same direction.
You go to the 1HR timeframe and wait until you saw that the same direction with 4HR and daily Timeframe and then once the 1HR Timeframe have already produce a signal, then place in your position but before that, you must check where is the nearest SR. Don’t take any position if the SR is nearer. You should wait until the last until you cross the pending order. Once the system produced signal, you should confirm the signal with the following at sub windows while the stochastic histogram has pass the level -20 and then SELL shall be the opposite of the BUY condition. Any Stop Loss shall be located at the last two candles height/low or if too close, or upon your own discretion. The first TP of the half of your position should be at the nearest S/R and leave the other half run to the next S/R while you move your SL to a breakeven status.
Click Here to Download A GREAT Trading Tool and Strategy For FREE
The results and their reviews are quiet impressive. Credit must go to the creator of this great indicator however, you can create your own settings especially if you are equipped with knowledge on how to developed such system.