5 min scalping Bollinger Bands and
RSI with MA Strategy is a reversal trading system filtered by
momentum.
Time frame 5 min.
Trading Session: any.
Currency pairs: EUR/USD, USD/JPY,
GBP/JPY, GBP/USD.
Forex Indicators:
Bollinger Bands 22 period, deviation
2.0.
RSI 7 period with level 75 and 25.
Moving Average smoothed of RSI 7
period, close.
Trading rules 5 min scalping
Bollinger Bands and RSI with MA Strategy
Buy
The price candle close outer the lower
Bollinger Bands and at the same time RSI is below 25 level.
When the RSI crosses upward MA smoothed
make a buy order.
Stop loss 3 pips below the entry bar.
Profit Target 4-7 pips.
Sell
The price candle close outer the upper
Bollinger Bands and at the same time RSI is above 75 level.
When the RSI crosses downward MA
smoothed make a sell order.
Stop loss 3 pips above the entry bar.
Profit Target 4-7 pips.
The system is interesting but it can be
slow when it comes to the market.
In the charts below examples of 5 min
scalping Bollinger Bands and RSI with MA Strategy.
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