Bollinger Band Stop Forex Scalping Strategy
This is a scalping strategy that works on a 5 to 15 minute timeframe. It is applicable to all currency pairs. You can use this system during London and New York session.
Trade Setup Indicators:
- Use EMA 50 and EMA 100. The EMA serves as a trend identifier.
Buy Signal:
- EMA 50 must be above EMA 100
Sell Signal:
- EMA 50 must be below EMA 100
Trade Trigger Indicators:
- BBands Stop (8,2,0,.2,1,1,1000, true) – This indicator is represented by blue and red color.
Sell trigger:
- BB stop has turned red and is below tha EMA 50 and 100.
- The price must cross below the candle where the bb stop appears represented by a large red dot. This is the start of the downtrend.
Buy trigger:
- Consider the opposite of the sell signal as buying requirements.
Trade Confirmation Indicators:
- Trendlord and 4TF-HAS are confirmation indicators. This will confirm the trades when the setup and trigger indicators forms.
- These two confirmation indicator must be red for a SELL and green for a BUY.
- Just refresh the chart by switching to different timeframe.
Exit position:
- Put STOP LOSS at the last swing high or low or the big dots.
- Target Profit is 1:1 on 1/2 of the position and 1:2 on 2nd 1/2 of the position and using a jumping stop on this 2nd 1/2 position.
Extra Indicator:
- AFST is a pivot point calculator that places the daily pivot points. You can use this indicator for target profit or stop losses.
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