Forex Wilders RSI Bollinger Bands Trading Strategy

Forex Wilders RSI Bollinger Bands Trading Strategy;

Wilder’s RSI Band Breakout is a trading system based on three indicators Bollinger Bands, BB Band stop and Wilder’ RSI. The purpose of this strategy is to enter in the market when there is a trend, then there are two solutions:

1. follow the trend with BB Stop;

2. fast predetermine profit that depends by pairs and time frame.

This strategy is a variant of the classic Bollinger Bands Breakout.

This strategy is suitable for scalping, day trading and swing trading.

Note_: Wilder’s RSI works best on divergences with Renko chart (see example below).

Time frame 5 min or higher.

Currency pairs: Majors more Indicies, Gold and Oil.

For 5 min time frame trading sessions;: London and New York.

Metatrader Indicators

Bands (20 period, deviation 2.0),

Money Dot

BB Stop (period 20, deviation 1.0),

Wilder RSI 12 period, close.

Trading Rules Wilder’s RSI Band Breakout

Buy

Wilder RSI is above 70 level;

the price close out the upper band.

Make profit at the with money dot, with profit target predetermined or following the position with BB Band stop.

Place initial stop loss below the lower band.

Sell

Wilder RSI is below 30 level;

the price close out the lower band.

Make profit at the red money dot, with profit target predetermined or following the position with BB Band stop.

Place initial stop loss below the lower band.

Max two re-enters in same direction.

Wilder’s RSI divergences on renko chart.

This trading method is discretionary only for experts.

The setting of BB Band stop is (20 period and deviation 2.0).

Box size 2 pips or higher.

Rules

Buy

Find the bullish divergences on Wilder’s RSI.

Enter when BB band stop is in buy.

Sell

Find the bearish divergences on Wilder’s RSI.

Enter when BB band stop is in sell.

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 Wilders RSI Bollinger Bands Trading Strategy?

• Download Forex Wilders RSI 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 Wilders RSI 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”.

Download Free Forex Wilders RSI Bollinger Bands Trading Strategy