Forex Dual Band Stochastic Trading Strategy
Forex Dual Band Stochastic Trading Strategy:
Dual Band with stochastic is a trading system based on E-75 indicator mix between Stochastic and bands. This is a indicator for binary options and scalping that I have used for this personal forex reversal strategy.
Time Frame 4H
Currency pairs: EUR/USD, GBP/USD, USD/CHF, AUD/JPY, USD/JPY, NZD/USD, USD/CHF, EUR/JPY, USD/CAD, CAD/JPY, GBP/JPY, AUD/USD.
Metatrader Indicators:
E-75 (Stochastic and two bands),
1a price action indicator,
EMA 20 (median price smoothed).
Rules for Dual Band with Stochastic
To find the currency pairs in range market (reccomanded).
You can to trade with 6-8 currency pairs, if there are currency do not not correlated is good.
Sell
When the price of the currency pair broken the upper bands, wait that the price came back into the bands. After when the price action indicator draw red dot and stochastic indicator crosses downward go sell.
Buy
When the price of the currency pair broken the lower bands, wait that the price came back into the bands. After when the price action indicator draw blue dot and stochastic indicator crosses upward go buy.
Exit Position
Stop loss:
for buy place intial stop loss on the previous low swing;
for sell place intial stop loss on the previous high swing;
Make profit 2 pips before Ema 20.
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 Dual Band Stochastic Trading Strategy?
- Download Forex Dual Band Stochastic 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 Dual Band Stochastic 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”.
