Awesome and Bollinger Band Forex Scalping Strategy

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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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