Summary
:
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.
Trading
Conditions
- Chart Timeframe : 15
Minute or Higher Timeframe.
- Currency Pairs : Any
pairs.
Trading
Rules
- 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