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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