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Forex Trading Strategy of Awesome Oscillator and Stochastic Indicator - Forex Function

Forex Trading Strategy of Awesome Oscillator and Stochastic Indicator

Last Update: 21 December,2015
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This is simple forex trading strategy based on awesome Oscillator and Stochastic indicator. These two indicators are familiar to the traders. Stochastic indicator is used to measure the strength of the trend of the price market. Awesome indicator is used for confirmation for taking entry according to this strategy. This is suitable for new traders also and they can get profitable entry from this simple strategy.
Required Indicators:
1) Awesome Oscillator. click here to know, how to set Awesome Oscilltor
2) Stochastic indicator. click here to know, how to set Stochastic indicator

You may download the full template for this trading strategy from the following link: Download Here

How to get buy signal
First you have to check Stochastic indicator. When it cross 20 level from lower to higher, then you will get buy alert. Then you need to check awesome oscillator. If green up value appears, then this strategy gives buy signal.
Check the chart example of below picture, on first buy setup, stochastic cross 20 level and green value appears on awesome oscillator. This is good buy setup with bullish candle. With that buy entry, traders would get 50-80 pips easily.
On the second buy setup, stochastic cross 20 level and oscillator is above 0.0 level. So this is also good buy setup and from that entry, traders would get around 100 pips.

awesome_Oscillator_trading-strategy

How to get Sell signal
First you have to check Stochastic indicator. When it cross 20 level from higher to lower, then you will get sell alert. Then you need to check awesome oscillator. If red down value appears, then this strategy gives sell signal.
Check the chart example of below picture, on first sell setup, stochastic cross 20 level and red value appears on awesome oscillator. This is good sell setup with bearish candle. With that sell entry, traders would get around 100 pips easily.
On the second sell setup, stochastic cross 20 level and sell value appears on awesome oscillator. So this is also good sell setup and from that entry, traders would get around 40-60 pips.

forex-trading-strategy-of-AO-stochastic

Preferred Time frame: H4 is preferable. M30 and H1 for scalping.

Currency pairs: All pairs.

Take profit and Stop loss:Take profit should be based on time frame. Minimum take profit 30 pips, you can target 80-150 pips profit.
Stop loss need to be placed above swing high for sell signal and below swing low for buy signal.

Risk warning: You need to avoid ranging market during following this strategy. You have to follow money management theory for following this trendy strategy. Before using this strategy, you need to practice this on demo account.


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