Zigzag And Bollinger Band Forex Scalping Strategy

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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.

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