Forex Magic Bands Scalping Strategy
Forex Magic Bands Scalping Strategy;
Time Frame:any (For Scalping 5min)
When the price of a bar closes above the bands and BBands stop dot is below, buy at open of the next bar. Re-Entry Long: with the if BBands stop open an new position and above the Magic Bands.
When the price of a bar closes below the bands and Bbands stop is above sell at open of the next bar.Re-Entry Short: with the if Bbands stop open an new position and below the Magic Bands.
Exit Position with BBands stop
For Scalping with Profit Target
Add Ribbon Indicators and delete BBands stop.
When the Ribbon is Green and Above the Magic Bands.
When the Ribbon is Red and Below the Magic Bands.
Profit Target: AUD/USD 6 pips, 8 pips EUR/USD, 10 GBP/USD
Place Stop Loss 5 pips below or above Bar Entry.
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 Magic Bands Scalping Strategy?
- Download Forex Magic Bands 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 Magic Bands 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”.