Forex Trading in Trend Bollinger Band Strategy is used to determine trend direction by using the EMA 100 channel. The Bollinger Band in this strategy is used for entry and exits.
Metatrader Indicators :
- 100 EMA channel:
- 100 Exponential moving average low (EMA);
- 100 Exponential moving average High (EMA);
- Bollinger Band, standard deviation 2.3 and period 10 moving average.
- Chart Timeframe : 15 Minute or Higher Timeframe.
- Currency Pairs : Any pairs.
- Follow the trend in trading.
- Buy when the price is above the channel and sell when it is below the channel.
Long Position Entry :
1. Market must be trending up.
2. The price must touch or break the lower band but above the red line (100 Exponential Moving Average low);
3. Buy at the opening of the next bar when price retraces into the band.
Short Position Entry :
1. Market must be trending down.
2. The price must touch or break upper band but below deep sky the line (100 Exponential Moving Average high);
3. Sell at the opening of the next bar when the price retraces into the band.
Exit Rules :
- Profit Option 1 : When the price breaks
- Profit Option 2 : Touches the Upper band or Lower band
- Stop Loss Option : Previous swing
How to install Files?
- Download *.zip file.
- Copy Indicators folder to your Metatrader Directory / indicators /
- Copy Template folder to your Metatrader Directory / templates /
- Copy Libraries folder to your Metatrader Directory / Libraries /
- Start or restart your Metatrader
- Select Chart and Timeframe where you want to test your forex strategy
- Right click on your trading chart and hover on “Template”
- Move right to select Template