405# 1-2-3 Pattern MTF with Bollinger bands and Moving Averages Scalping System
1-2-3 pattern MTF Scalping System
Submit by FxTrader 09/12/2013
1-2-3 pattern MTF with Bollinger bands and Moving Averages Scalping System is a price action forex strategy trend following. This scalping system works also with higher time frame.
Time Frame 5 min, 15 min .
Currency pairs: EUR/USD, GBP/USD, USD/CHF, AUD/USD.
Technical Indicators:
Parabolic Sar indicator (0.02-0.2);
Moving Average Simple ( period 6, close);
Moving Average Simple ( period 12, close);
Moving Average Simple ( period 24, close);
Moving Average Simple ( period 48, close);
Bollinger Bands (12, 2 or 20 :2);
Bollinger bands (48, 2);
1-2-3 Pattern MTF v3.1;
Lab Trend Zig Zag 1.2;
Rules for 1-2-3 Pattern MTF with Bollinger bands and Moving Averages Scalping System
Trade only in the direction of th trend
Buy
Simple Moving Average trend up= MA 6>MA12>MA24>MA48 and MA12>MA24>MA48;
Parbolic Sar trend up with the dots below the candles;
The upper band of the Bollinger Bands (12, 2 or 20:2) is > of the upper band of the Bollinger bands (48, 2);
Lab Trend Zig Zag pointing up;
If these conditions are fulfilled enter a buy pending order at the level 100 of the indicator 1-2-3 pattern with target 161 or 261.
Place the stop loss 2 pips below the level of 23.6.
Sell
Simple Moving Average trend down= MA 6<MA12<MA24<MA48 and MA12<MA24<MA48;
Parbolic Sar trend down with the dots above the candles;
The lower band of the Bollinger Bands (12, 2 or 20:2) is > of the lower band of the Bollinger bands (48, 2);
Lab Trend Zig Zag pointing down;
If these conditions are fulfilled enter a sell pending order at the level 100 of the indicator 1-2-3 pattern with target 161 or 261.
Place the stop loss 2 pips above the level of 23.6.
This scalping system is also good for trading in with Binary Options High/Low.
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