114# Awesome and Bollinger Bands Scalping
Submit By Janus Trader
Trade between 3:00 am to 11:00 am ESDT(Eastern Standard Time)
Time Frame 5 minutes
Pairs: Majors
Indicators:
Bollinger bands (20; 2)
Awesome
MACD (12, 26, 9)
Long Entry
AO(Awesome oscillator ) is turned green and is placed above the zero level.
MACD green band is above red band.
MACD histogram is above zero level.
One bullish candle has to close above mid BB and enter immediately at the open of next candle if the rest of components agree to each other.
What to look for. Bullish candle has to close above mid BB and pull trigger to go long as soon as the candle that crosses mid bb closes.
Short Entry
One bearish candle has to close below mid BB and enter immediately at the open of next candle.
Candle has to close below mid BB and pull trigger to go short as soon as the candle that crosses mid bb closes.
AO(Awesome oscillator ) is turned red and is placed below the zero level.
MACD red band is below green band.
MACD histogram is below zero level.
Exit
Place stop loss if Going Long, three pips under mid BB if candle closes in selling area.If going short, place stop loss three pips above mid BB if candle closes in buying area.
Profit Target 6-10 pips
The rules of the system in the pictures below.
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Write a comment
Romy (Wednesday, 05 April 2017 21:50)
Great strategy, Simple and effective.
Al Je (Tuesday, 26 June 2018 07:36)
Can this be used to trade futures and also can it be used at a different time instead of the mentioned 3am - 11am est? Thanks