Zigzag And Bollinger Band Forex Scalping Strategy

0
842

Zigzag And Bollinger Band Forex Scalping Strategy

This is a scalping system that uses a price action. It is also based on the Bollinger bands and Zig Zag. This works on a 5-minute timeframe and useful in all major currency pairs.

Metatrader Indicators:

  • zig zag indicator (period 2)
  • zigzag pointer indicator (period 10, 5, 15) (for Meta trader user) Zig Zag indicator (12, 5, 3)
  • CCI indicator (14) with levels 90 and -90
  • Stochastic indicator 11-5-5
  • Bollinger bands (20, 3) and (20,2)

Long Entry:

  • The price must touch or close the bottom Bollinger bands indicator.
  • Zig Zag indicator and Zig Zag Pointer indicator meet together on the same candle.
  • CCI indicator gets over -90 level.
  • The stochastic indicator must cross and point up.
  • Enter trade when price closed into Bollinger Bands (20.2 ) at open next bar.

Short Entry:

  • The price must touch or close the Top Bollinger bands indicator.
  • Zig Zag indicator and Zig Zag Pointer indicator meet together on the same candle.
  • CCI indicator gets over 90 level.
  • The stochastic indicator must cross and point down.
  • Enter trade when price closed into Bollinger Bands (20.2 ) at open next bar.

Exit Position:

  • Profit Target must be 6-10 pips depending by currency pairs.
  • take profit on the middle band.
  • Place Stop loss below or above entry candle.

Recommended MT4 Brokers

XM Broker

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

XM broker

>> Sign Up for XM Broker Account here <<

FBS Broker

  • Trade 100 Bonus: Free $100 to kickstart your trading journey!
  • 100% Deposit Bonus: Double your deposit up to $10,000 and trade with enhanced capital.
  • Leverage up to 1:3000: Maximizing potential profits with one of the highest leverage options available.
  • ‘Best Customer Service Broker Asia’ Award: Recognized excellence in customer support and service.
  • Seasonal Promotions: Enjoy a variety of exclusive bonuses and promotional offers all year round.

fbs broker

>> Sign Up for FBS Broker Account here <<

Click here below to download:

Save

Save



Get Download Access

Get Smarter About Forex Trading Using Indicators

Join 100,000+ subscribers and get our 5 min daily newsletter on what matters in forex.

We do not sell or share your information with anyone.

LEAVE A REPLY

Please enter your comment!
Please enter your name here