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Welles Wilder's Reaction Trend System:

Widely known as pivot points system

Caution: This indicator works well in non trending shares only. In trending shares, using this indicator for entry/exit decisions in not recommended. In such case use Parabolic SAR.

Use "Welles Wilder's ADX" for trend determination.

Trading Rules:
  • Go Long on "Buy Point" and do profit taking on "Sell Point" or book loss on "Buy Stoploss" and take new short position.
  • Go Short on "Sell Point" and do profit taking on "Buy Point" or book loss on "Sell Stoploss" and take new long position.
  • After taking a position, if corresponding Profit taking or Stoploss points are not hit on same day, carry the position to next day.
  • On next day use Profit taking and Stoploss points for that day.
Hint: If share price opens below "Pivot Point" there are more chances that you will get the "Buy Point" first and vice versa.

Disclaimer: Stock market is a risky place and trading based on this indicator is totally on your own risk. We assume absolutely no responsibility if you bear losses in your trading.

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