66# Envelope Reversal Trading System
Envelope Reversal is an trading system based on these indicators: envelope, RSI and bollinger bands.
Indicators:
Envelope Set for 15min: 0.10, 0.20, 0.30, 0.40.
RSI (9) With Bollinger Bands (15, 1)
Long Entry
Wait that Price is outside the envelopes (0.4) and the RSI Breaks down Lower band of BB, after wait that RSI Breaks up Lower Band of BB, entry at open next bar.
Short Entry
Wait that Price is outside envelope (0.4) and the RSI Breaks up Upper band of BB, after wait that RSI Breaks down Upper Band of BB, entry at open next bar.
Exit Position
Set Profit Target with this system at the 20 EMA line, or aggressive at the 0,10 envelope line.
Place Stop Loss on low (for sell)or high (for buy) of the entry bar.
P.S. This is not a trend following System
In the picture below an example Envelope Reversal Trading System in action.
Share your opinion, can help everyone to understand the forex strategy.
Simplified strategy only envelopes
this setting is for 30 and 60 min chart.
Long Entry
When the price is outside of the lower the envelopes (0.3-0.4) for entry wait that the price come back into 0.2 and 0.3 envelopes.
Short Entry
When the price is outside of the upper the envelopes (0.3-0.4) for entry wait that the price come back into 0.2 and 0.3 envelopes.
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kimdongsig (Friday, 27 July 2018 01:22)
thank you!