The Magic Band Forex Scalping Strategy

0
478

The Magic Band Trading Strategy

This strategy uses any timeframe. Use 5 minutes for scalping. Use this system in all currency pairs.

Here are the indicators for this system:

  • Bands(50, 0.05);
  • Bands(15, 0.05).
  • BbandsStop (16,2)
  • Ribbon

For LONG entry:

  • Buy at opening of the next bar when the price of a bar closes above the bands and Bbands stop dot is below.
  • Re-enter if the BBand stop, open a new position and above the magic band.

For SHORT entry:

  • Sell at the opening of the next bar when the price of a bar closes below the bands and BBands stop is above.
  • Re-enter if BBand stop, open a new position and below the magic bands.

You can exit position with BBand stop

For Scalping with Profit Target:
Add Ribbon Indicators and delete BBands stop.

Long
When the Ribbon is Green and above the Magic Bands.

Short
When the Ribbon is Red and Below the Magic Bands.

Profit Target for AUDUSD is 6 pips, 8 pips for EURUSD and 10 GBPUSD.
Place Stop Loss 5 pips below or above Bar Entry.

Recommended MT4 Broker

  • Free $50 To Start Trading Instantly! (Withdrawable Profit)
  • Deposit Bonus up to $5,000
  • Unlimited Loyalty Program
  • Award Winning Forex Broker
  • Additional Exclusive Bonuses Throughout The Year

Recommended broker

>> Claim Your $50 Bonus Here <<

Click here below to download:

Save

Save



Get Download Access

LEAVE A REPLY

Please enter your comment!
Please enter your name here