57# Money Flow Reversal Strategy
Submit by Joy22 update 2024
Money Flow Reversal Strategy is based on the overbought and oversold of the MFI (Money Flow Index), when the price reaches these areas if at the same time on the main chart the price touches the blollinger bands or breaks them there is a potential price reversal situation, therefore, if a subsequent direction signal is generated, the market is entered. This strategy can be reproduced in every trading platform.
Setup
Time Frame 15 min or higher.
Currency Pairs: majors, minors and indices.
Metatrader 4 Indicators
Money Flow Index
Bollinger Bands periods 22 deciation 2.0
direction arrow: proposed arrows QQE-MACD, BullsEye Forecast, Half Trend.
Trading Rules
Always follow the trend of the last overbought or oversold excursion of the Money Flow Index.
Buy
Money Flow Index reaches oversold area (therefore only buy until the Money Flow Index reaches the Overbought area).
Bollinger Bands: the price must touch or break the lower band at the same time as the MFI.
Entry timing when the buy direction arrow indicator appears, it will also continue to buy until the MFI reaches the overbought area.
Sell
Money Flow Index reaches overbought area only buy until Money Flow Index reaches oversold area).
Bollinger Bands: the price must touch or break the upper band at the same time as the MFI.
Entry timing when the sell direction arrow indicator appears will also continue to sell until the MFI reaches the oversold area.
Exit position
Place initial stop loss below/above the previous swing High/low.
Profit Target at the next arrow, at mid band or with minimum stop loss ratio 1:1.
MM Proposed Oscar Grind or Kelly formula. Aggressive D’Alembert.
Winning Strategy!
57# Scalping with Money Flow Index and Bollinger Bands
Submit by Joy22
Time Frame 5min
Pairs: EUR/USD, AUD/USD, GBP/USD
Indicators:
Bollinger bands (20, 2)
Money Flow Index (8).
Long Entry:
when the MFI is in overbought, the bid price close outside the lower Bollinger band indicator line, wait candle
bullish.
Short Entry:
when the MFI is in oversold, the bid price close outside the lower Bollinger band indicator line, wait the candle bearish candle
Exit Position:
Place Stop Loss on the upper or lower band.
Profit Target: AUD/USD 6 pips, EUR/USD 8 pips, GBP/USD 10 pips.
Place Stop Loss on the upper or lower band.
Profit Target: AUD/USD 6 pips, EUR/USD 8 pips, GBP/USD 10 pips.
Share your opinion, can help everyone to understand the forex strategy.
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Write a comment
maxiiz (Friday, 06 January 2012 08:21)
thank you for forex scalping system
trader (Saturday, 18 February 2012 20:35)
i jsut made a million with this strategy! only i use bb(50) + adx(dont trade when its a above 32) + rsi(7) with levels 70 30. enjoy. have a nice day
john (Friday, 02 January 2015 18:37)
Good strategy can we apply to stocks & commodities as well
HIDDEN (Wednesday, 28 January 2015 01:39)
Hey trader.......you trade EURUSD or USDJPY