Forex Scalping Bollinger Band Strategy

Trading Strategies 0 963


Summary : 

Forex Scalping Bollinger Band Strategy is based on Three Bollinger bands and reversal trading system.

 

Metatrader Indicators : 

- Bollinger bands (20; 2)

- Bands 1 color Blue

- Bands 2 color Red

- Trend Signal v.2 (Risk 3.SSP,1)

- Pivot Points Level.

 

Trading Conditions

- Chart Timeframe : 15 Minute or Higher Timeframe.

- Currency Pairs : Any pairs.

 

Long Position Entry : 

1.     Enter trade when the price bounce o breaks the lower bands. But wait the first buy arrow.

2.     Enter on the next bar.

 

Short Position Entry : 

1.     Enter trade when the price bounce o breaks the lower bands. But wait the first buy arrow.

2.     Enter on the open next bar.

 

Exit Rules : 

- Profit Option : Middle band.

- Stop Loss Option : 2 pips above Upper blue band (SELL) or 2 pips below lower blue band. (BUY)

 

From 21:30 to the 7:00 GMT Berlin, recommended exit is middle band,
From 7:00 to the 21:00 GMT Berlin, recommended exit is fast profit target.

 

How to install Files?

- Download *.zip file.

- Copy Indicators folder to your Metatrader Directory / indicators /

- Copy Template folder to your Metatrader Directory / templates /

- Copy Libraries folder to your Metatrader Directory / Libraries /

- Start or restart your Metatrader

- Select Chart and Timeframe where you want to test your forex strategy

- Right click on your trading chart and hover on “Template”

- Move right to select Template

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