Forex Bollinger Band, RSI and Stochastic Strategy
This system works on a 15 minute or higher timeframe and applicable to all currency pairs.
Forex Indicators:
- Bollinger Bands:
- Period 50, Deviations 2 – Red
- Period 50, Deviations 3 – Yellow
- Perion 50, Deviations 4 – Orange
- RSI with Period 3;
- Stochastic 6,3,3.
Long Entry:
- The candle must touch the lower red Bollinger band.
- The RSI should be below 20 so as the Stochastic.
- Place a buy order when the next candle retrace back through the Red Bollinger Band, the RSI falls above the 20 level and the Stochastic crosses lines above or just 40.
Sell Entry:
- The candle must touch
- The RSI should be above 80 so as the Stochastic.
- Place a sell order when the next candle retrace back through the Red Bollinger Band, the RSI falls below
- the 80 level and the Stochastic crosses lines just below 60.
Exit position:
- Place stop loss on Yellow or Orange Band.
- Take profit on middle band.
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