10# Best Bollinger Bands Mobile Setup

Submit by Joy22

Today I present a classic setup based on Bollinger Bands to trade reversals and in trend following. The ideas if they were good before are still good today, this is a winning trading idea and for this reason I propose it again on mobile (considering that the setup is simple and does not require custom indicators. This is a universal strategy that can be applied with all types of trading platforms.

This trading system setup with bollinger bands is suitable for both reversal and trend following operations and combined operations. Trading approaches can also be used individually. Here I will describe both the reversal and the trend following.

Note that the low and high bands are levels of dynamic support and resistance.

Setup strategy

time Frame 15 min or higher.

Currency pairs:any.

Indicators main chart

Bollinger Bands (50 period, 2.0 deviation, close).

Bollinger Bands (50 period, 3.0 deviation, close).

Bollinger Bands (50 period, 4.0 deviation, close).

In sub window

Stochastic oscillator (5,5,5, close).

Relative Strength Index 14, period, close. (level 55-45) for trend setup Reversal setup RSI is optional.

Trading Rules Reversal (with double entry)

Buy

The price touches or breaks the lower Bollinger Band with deviation 3.0.

The price closes above the lower band with deviation 2.0

The stochastic oscillator crosses upwards.

Buy at the opening of the next band.

If the price does not reverse and go back down, close the position and re-enter the new upward cross of the stochastic oscillator.

Profit target at the middle band or befor the upper band with deviation 2.0.

Initial Stop Loss at the previous swing High/Low.

Sell

The price touches or breaks the upper Bollinger Band with deviation 3.0.

The price closes below the upper band with deviation 2.0.

The stochastic oscillator crosses downwards.

Sell at the opening of the next band.

Re-entry with the same rules for buy but inverse.

Profit target at the middle band or befor the lower band with deviation 2.0.

Initial Stop Loss at the previous swing High/Low.

Trading Rules Reversal Trend Following

Buy

Price crosses upward the middle band and coses above it.

Stochastic crosses upward.

RSI >55.

Sell

Price crosses downward the middle bands and closes below it.

Stochastic crosses downward.

RSI <45.

Exit position

Place initial stop loss below/above the previous swing high/low.

Profit target minimum ratio stop loss 1:1.2. It is recommended to apply a Trailing Stop.