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Bollinger bands, RSI, ADX
This strategy is for 1 minute timeframe and the pairs that must be traded are major pairs. Indicators that are used in this strategy is as follows:
- Bollinger Bands set to: (20, 2)
- RSI set to: period 7
- ADX set to: period 14
Trading time of this strategy must be:
2am – 5am EST, 8am – 12am EST, 7:30pm – 10pm EST.
The setup: RSI raised above 70 line or below 30 line, ADX is less than 32.
For LONG entry:
- Price must be below the lower Bollinger band.
- RSI must be above 30.
- ADX is less than 32.
For SHORT entry
- Price must be above the upper Bollinger band.
- RSI must be below 70.
- ADX is less than 32.
Target profit for this strategy is 6 pips, you can exit when price touches the middle band or when it touches the opposite band. Set your stop loss to 7 pips.
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