Forex Bollinger Bands Stop Scalping Strategy
Forex Bollinger Bands Stop Scalping Strategy:
Time Frame 5-15 min
Currency Pair: all.
Session:London and Newyork.
Trade Setup indicators:
EMA(50) and EMA(100) both applied to the candle close.
This is what determines the “trend”. If EMA(50) is above EMA(100) we will only be looking for a Buy trigger. If EMA(50) is below EMA(100) we will be looking for a Sell trigger.
Trade Trigger Indicators:
BBands Stop (8,2,0.2,1,1,1000, true) applied on the chart with blue and red colours. If BBStop is blue it means long if BBStop is red it means shortl. However, what we will take as a Sell trigger is that BBStop has turned red, and is BELOW both the EMA(50) and EMA(100). ALSO the price has crossed below the candle where theBBStop “large red dot” appears. This large red dot is the start of the down trend according to BBStop. This large BBStop dot will produce an alert on your platform so it is a nice way to let you know we might be getting a trend setup soon. Reverse the above for a Buy.
Trade confirmation Indicators:
These are TrendLord and 4TF-HAS are used to confirm your trade. Once the setup and trigger indicators are all lined up for you to take trade, take a final look at the confirmation indicators to make sure they agree with your decision. The 4TF-HAS and Trendlord have to be red for a sell, and green for a buy. A word of caution about these indicators when your charts get stale (not updated in a while your screen saver kicks in or whatever), you may need to refresh your charts by switching to a diffrent time frame and back to the desired time frame on the chart to refresh the indicator.
That is the basic system in a nutshell. There will be many details to iron out I am sure such as TP target, SL placement, re-entering a trade, etc. I generally like to use the last swing high/low (or the big dot) as my SL, and then set my TP target as 1:1 on 1/2 my position and 1:2 on second 1/2 of my position and using a jumping stop on this second 1/2 position. I am sure there are many ways to manage a trade and this can be discussed in the thread among followers as each trader’s comfort and risk level is different than others. I will be giving general guidelines, but then again nothing is etched in stone here.
AFST Exact entries is a pivot point calculator that places the daily pivot points on your chart. If you would like to use those as possible turning points or TP/SL targets, you can use this indicator (with default settings) at your discretion.
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.
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How to install Forex Bollinger Bands Stop Scalping Strategy?
- Download Forex Bollinger Bands Stop 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 Bollinger Bands Stop 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”.
Download Free Forex Bollinger Bands Stop Scalping Strategy
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