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Contrarian Forex Trading System
The contrarian is a forex trading strategy that is based on the stochastic over BS indicator. This is suitable to a 1-hour or higher timeframe. The pairs that are suitable for this method are GBPUSD, EURJPY, GBPJPY, AUDJPY, GBPCHF, and USDCAD.
MT4 Indicators:
- Stochastic over BS
- Squidster
- Bolliger Bands (20, 3)
Long Entry:
- StochsOverBS – red or pale red.
- A red arrow
Short Entry:
- StochsOverBS – green or pale green.
- A red arrow.
Exit Position:
- Stop Loss for a buy is 5 pips below the lower band.
- Stop Loss for a sell is 5 pips above upper band.
Profit Target on the middle band or opposite band or entry with Two order first target on the middle band, second target on opposite band.
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