155# Bollinger Bands Bounce Scalping system
Bollinger bands Bounce
Submit by Janus Trader (Witten by James Agnew717) 14/12/2012
Bollinger bands Bounce Scalping is a scalping system based on volatility of the market.
Time Frame 5 min
Currecy Pairs:any
Indicators:
Bands (100, 2);
39SMA; 36SMA, 13SMA, 5SMA,
RSI Color Zero Line.
the rules:
I am looking for a volatile market,
I need to see the lower or upper bands spiked and bands far apart
if bands tight together up to 50 pips no trades, as my entry comes after the price has broken the red green lines with rsi histogram turning the correct colour also.
Example : price goes down, spikes lower bands , the lines are also going down, I now wait for price to close the downward sloping green lines and rsi histogram turns green,
if the price closes the green lines but rsi histogram is red, no trade, rsi needs to agree
look how may times in the last few days this stops losing entry trades after the lower 100 bands are spiked.Its a great filter to this system
I have 20 stop loss and 20 tp, , risk 2% for 2%, when i get my 2% I quit for the day.
Share your opinion, can help everyone to understand the forex strategy.
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Pasquale (Friday, 18 October 2024 16:25)
Great reversal scalping strategy ,Thanks Janus!!