Multiframe Trading with SMA and Bollinger Band Forex Trend Following Strategy

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Multiframe Trading with SMA and Bollinger Band Forex Trend Following Strategy

This Trading System uses three timeframes and these are 15 min, H1, 4 hours.

Forex  Indicators needed:

  • 3 SMA , 11 SMA, 34 SMA,
  • Bollinger Bands (20, 2).

Long Entry:

  • Enter on 15 minutes chart.
  • On 15 minutes chart, for uptrend:
  • 3 SMA must be greater than 11 SMA and SMA 11 is greater than 34 SMA.

Check 1 hour:

  • 3 SMA must be greater than 11 SMA and SMA 11 is greater than 34 SMA. .
  • Check 4 hour chart meet same conditions as for H1 chart this is the setup for long entry.
  • Go on 15minutes Chart and go long when the price retrace on the 11 SMA

Short Entry:

  • 3 SMA must be less than 11 SMA and 11 SMA is less than 34 SMA.

Check H1 chart:

  • On 15 minutes chart, for uptrend:
  • Enter on 15 minutes chart.
  • 3 SMA must be less than 11 SMA and SMA 11 must be less than 34 SMA. .
  • Check if 4 hour chart meet same conditions as for H1 chart this is the setup for short entry.
  • Go on 15minutes Chart and go short when the price retrace on the 11 SMA.

Exit position:

Take profit at 20-30 pips or ratio 1,3 stop loss, (if stop loss is 21 pips profit is 28 pips.)
Place Stop Loss levels on 15 min chart.
for long 3 pips below the Lower band,
for short 3 pips above the upper band.

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