Forex Divergence Bollinger Bands Trading Strategy
Forex Divergence Bollinger Bands Trading Strategy;
Time Frame 4H
Currency pairs:any.
Bollinger bands: (20:2);
Whenever a divergence occurs (as indicated by the indicator), enter a trade in direction suggested by the divergence, with no SL, and TP at the opposite outer band of Bollinger Band.
Keep moving TP every 4 hours to the targeted outer band of Bollinger Band, until price hits (at either profit or loss).
Suggested filter: (a) take only trade when there is large enough distance (potential profit) between entry price and opposite outer band of Bollinger Band; (b) take only trade when price still needs to travel across the middle Bollinger Band line before it can reach the other end (similar to giving you more distance and potential profit).
Forgot to add, another exit point is if a new divergence signal occurs, pointing the wrong way.
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 Divergence Bollinger Bands Trading Strategy?
- Download Forex Divergence 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 Divergence 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”.
