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Four Bollinger Bands Forex Scalping Strategy
This is a scalping strategy that uses bollinger bands to identify the entry. This strategy is useful in a 15-minute timeframe and works on any currency pairs.
Metatrader Indicators:
- Stochastic_Cross_Alert_SigOverlayM_cw. indicator
- i-ParamonWorkTime. indicator
- i-Stochastic
- RSI Signal
- 4 Bollinger Bands Stop indicators.
Buy Entry:
- 3 lines having a green color line and one red color indicates an uptrend.
- Buy arrow must appear.
- Enter buy position at the opening of the next bar.
Sell Entry:
- 3 lines having a red color line and one with a green color indicates a downtrend.
- Sell arrow must appear.
- Enter sell position at the opening of the next bar.
Exit position:
- Set profit target at 8-13 pips but depends on the currency pair.
- Place stop loss at 2 pips below or above Bollinger bands stops (period 300).
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