Bollinger Bands momentum trading
is a forex strategy that trade the momentum in trend with Bollinger,
Parabolic SAR an Stochastic oscillator.
Time Frame 5 min or higher.
Currency pairs: EUR/USD, USD/CHF,
GBP/USD, USD/JPY, GBP/JPY, EUR/GPB, AUD/USD, EUR/AUD, AUD/JPY,
Forex Indicators:
Bollinger Bands (period 20, deviation
2.0);
RSI (14) optional ;
CCI (20) optional ;
MACD (12, 26, 9) optional;
Parabolic SAR (0.02, 0.13);
Stochastic oscillator (8,3,3),
Trading Rules Bollinger Bands
Momentum Trading
For Buy To
Enter (UPTREND)
1. Look for the
currency pair to hit or come very close to hitting the lower
Bollinger.
2. Wait for the
next candle to Make sure it is a white candle which indicates
bullishness .RSI and CCI should go up.(Optional)
Stochastic
oscillator should be at bottom. Parabolic Sar should preferably be
below Price. If so, go long at the open of the third candle.
Exit when it reaches the upper Bollinger.
3. The initial
stop is placed at the first candle's low or 100 Pips below the buy
entry price whichever is lower.
For Sell To Enter(DOWNTREND)
1. Look for the
currency pair to hit or come very close to hitting the upper
Bollinger.
2. Wait for the
next candle to Make sure it is a black candle which indicates
bearishness. RSI and CCI should go DOWN (Optional)
Stochastic
oscillator should be at top. Parabolic Sar should preferably be above
Price. If so, go short at the open of the third candle. Exit
when it reaches the lower Bollinger
3. The initial
stop is placed at the first candle's high or 100 Pips above your sell price entry
whichever is higher.
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