595# FX Daily Trend

Submit by Larry 2017

FX Daily Trend is an indicator that find the direction of the market for trading intraday for six majors pairs. This tool Metatrader 4 can be used for build intraday forex strategies: trend following, momentum, trend momentum and with Bollinger Bands. The first strategy that show is Fx Daily Trend with two Bollinger Bands.

Time Frame 15 min.

Currency pairs: EUR/USD, GBP/USD, AUD/USD, USD/CHF, USD/CAD, USD/JPY.

Metatrader Indicators:

FX Daily Trend ( show following pairs: EUR/USD, GBP/USD, AUD/USD, USD/CHF, USD/CAD, USD/JPY);

Bollinger Bands (period 30, deviation 2.0);

Bollinger Bands (period 30, deviation 3.0);

Trading rules Fx daily trend with bollinger bands

Wait that FX Daily Trend draws on the chart the direction of the market.

Buy

FX Daily Trend Buy arrow.

When the price touches or breaks the lower Bollinger Band (30, 3) wait that price action close into the Bollinger Bands (30, 2) and palce a buy order at the opening of the next bar.

Place initial stop loss below the lower band of BB (30, 3).

Profit Target 8-14 pips depend by pairs or at the middle band.

Sell

When the price touches or breaks the upper Bollinger Band (30, 3) wait that price action close into the Bollinger Bands (30, 2) and palce a sell order at the opening of the next bar.

Place initial stop loss above the upper band of BB (30, 3).

Profit Target 8-14 pips depend by pairs or at the middle band.

FX Daily Trend in general it can be a winning trading method, also if associated with other (trend or momentum) strategies.

In the pictures Fx daily trend with Bollinger Bands in action. 

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