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Awesome and Bollinger Band Trading System
Use this trading system between 3:00 am to 11:00 am EST in a 5 minute timeframe. You can use all major pairs in this system.
Forex Indicators:
- Bollinger bands (20; 2)
- Awesome
- MACD (12, 26, 9)
For Long Entry:
- AO (Awesome oscillator) turns green and is placed above the zero level.
- MACD green band must be above red band.
- MACD histogram must be above zero level.
- One bullish candle has to close above mid BB and enter immediately at the open of next candle if the rest of components agree to each other.
- Bullish candle has to close above mid BB and pull trigger to go long as soon as the candle that crosses mid bb closes
For Short Entry:
- AO (Awesome oscillator ) is turned red and is placed below the zero level.
- MACD red band must be below green band.
- MACD histogram must be below zero level.
- One bearish candle has to close below mid BB and enter immediately at the open of next candle.
- Bearish candle has to close below mid BB and pull trigger to go short as soon as the candle that crosses mid bb closes.
Exit Position for Long entry:
Stop loss must be set 3 pips under mid BB if candle closes in selling area.
For short:
Stop loss must be set 3 pips above mid BB if candle closes in buying area.
Take profit at 6-10 pips.
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