349# Bollinger Bands with Zig Zag Scalping System

Submit by Mek2 07/06/2013

This is a Scalping system based on the bollinger bands and Zig Zag.But it can also be considered a price action scalping system.

Time Frame 5 min. (But This trading system works on all time frame)

Currency pairs :major.

Indicators :

zig zag indicator (2 period)
zig zag pointer indicator (10, 5, 15 period) (for Metatatrader user) Zig Zag indicator (12, 5, 3)
CCI indicator (14) with levels 90 and -90
Stochastic indicator 11-5-5
Bollinger bands (20, 3) and (20,2)

Long Entry

Conditions:
Price touch or close the bottom Bolllinger bands indicator;
Zig Zag indicator and Zig Zag Pointer indicator meet together on the same candle;
CCI indicator get over -90 level;
stochastic indicator crossed and pointing up.

Entry when price closed into Bollinger Bands (20.2 ) at open next bar.

Short Entry

Conditions:

Price touch or close the Top Bolllinger bands indicator;
Zig Zag indicator and Zig Zag Pointer indicator meet together on the same candle;
CCI indicator get over 90 level;
stochastic indicator crossed and pointing down.

Entry when price closed into Bollinger Bands (20.2 ) at open next bar.

Exit Position

Profit Target 6-10 pips depnds by currency pairs.

Profit Target also on the middle band.

Place Stop loss below or above entry candle.

This Scalping System is also good for trading on the Binary Options.

This is a Binary Options Strategy One Touch.

See version Binary Options One Touch Strategy Bollinger Bands with Zig Zag Scalping System.

In the pictures Bollinger Bands with Zig Zag Scalping System forex system in action.

Share your opinion, can help everyone to understand the forex strategy.

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