Forex Better Bollinger Bands Trading Strategy
Forex Better Bollinger Bands Trading Strategy;
Better Bollinger Bands is trading strategy based on breakout of the upper/lower bands. In other words this is the classic Bollinger Bands strategy but with modified BB and Squeeze, MACD indicators.
Time Frame 5 min or higher.
Currency pairs: any.
Better Bollinger Bands (period 18, deviation 2.0)
Moving average 200 (long trend ),
PBF Squeeze (filter),
MACD 2 line (12, 26, 9).
Trading Rules Better Bollinger Bands
Price close above the upper band of Bollinger Bands.
XPS bar aqua color.
MACD 2 line crosses upward.
PBF Squeeze Histogram green above zero level.
Price close below the lower band of Bollinger Bands.
XPS bar pink color.
MACD 2 line crosses downward.
PBF Squeeze Histogram red below zero level.
When MACD or PBF are flat do not trade.
In this strategy is also important to apply Multi time frame analysis for choose the currency in trend. For example if you trade on 30 min chart check 240 min chart that there is a trend.
Exit position options:
When MACD crosses in opposite direction;
At the levels of Pivot point for intraday trading.
Ratio sto loss 1:15.
Place initial stop loss 5 pips above/below the entry bar.
This Better Bollinger Bands improves this strategy than the normal Bollinger Bands.
You can also trade only in the direction of the Moving Average 200.
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 Better Bollinger Bands Trading Strategy?
- Download Forex Better Bollinger Bands Trading 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 Better Bollinger Bands Trading 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”.