Forex BB Zig Zag Scalping Strategy
Forex BB Zig Zag Scalping Strategy:
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.
In forex a trading strategy is a fixed plan that is designed to achieve a profitable return by going long or short in markets. The main reasons that a properly researched trading strategy helps are its verifiability, quantifiability, consistency, and objectivity.
For every trading strategy one needs to define assets to trade, entry/exit points and money management rules.
How to install Forex BB Zig Zag Scalping Strategy?
- Download Forex BB Zig Zag Scalping Strategy.zip
- Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
- Copy tpl file (Template) to your Metatrader Directory / templates /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your forex strategy
- Load indicator on your chart
How to uninstall Forex BB Zig Zag Scalping Strategy?
To shut down an indicator, one has to remove it from the chart. At that, its drawing and recalculation of its values will stop. To remove an indicator from the chart, one has to execute its context menu commands of “Delete Indicator” or “Delete Indicator Window”, or the chart context menu command of “Indicators List – Delete”.
