Bollinger Bands Multitimeframe Trading System
Submit by joy22
Time Frame H1 and H4
Pairs:all
Indicators:
Bollinger Bands (2, 20);
Bollinger Bands (3, 20)
Stochastics. (14,3,3.);
Setup
I trade this method using both a 1H and 4H chart. When the price on the 1H chart breaks Bollinger Bands (3) I see that price has broken the inner Bollinger Band level on 4H. Now we can expect a pullback or a ‘reversion of the price.
Long Entry Position:
the price on the 1H chart breaks Bollinger Bands (3);
the price has broken the inner Bollinger Band(2) level on 4H;
the stochastic is in overbought territory ( less than 20),to see before considering a trade is %K crossing %D from below 20 (for a long trade).
Short Entry Position:
the price on the 1H chart breaks Bollinger Bands (3);
the price has broken the inner Bollinger Band(2) level on 4H;
the stochastic is in oversold territory ( greater than 20),to see before considering a trade is %K crossing %D from above 80 (for a long trade).
Exit Position:
1)Stops are placed 5 pips behind the low or high of the entry bar;
2) Trailing Stop;
3) Profit Target: 60 pips EUR/USD, 70 pips GBP/USD 4H Time Frame, for Daily time frame 200pips EUR/USD , 250 pips GBP/USD (recommended);
Submit by joy22
Time Frame H1 and H4
Pairs:all
Indicators:
Bollinger Bands (2, 20);
Bollinger Bands (3, 20)
Stochastics. (14,3,3.);
Setup
I trade this method using both a 1H and 4H chart. When the price on the 1H chart breaks Bollinger Bands (3) I see that price has broken the inner Bollinger Band level on 4H. Now we can expect a pullback or a ‘reversion of the price.
Long Entry Position:
the price on the 1H chart breaks Bollinger Bands (3);
the price has broken the inner Bollinger Band(2) level on 4H;
the stochastic is in overbought territory ( less than 20),to see before considering a trade is %K crossing %D from below 20 (for a long trade).
Short Entry Position:
the price on the 1H chart breaks Bollinger Bands (3);
the price has broken the inner Bollinger Band(2) level on 4H;
the stochastic is in oversold territory ( greater than 20),to see before considering a trade is %K crossing %D from above 80 (for a long trade).
Exit Position:
1)Stops are placed 5 pips behind the low or high of the entry bar;
2) Trailing Stop;
3) Profit Target: 60 pips EUR/USD, 70 pips GBP/USD 4H Time Frame, for Daily time frame 200pips EUR/USD , 250 pips GBP/USD (recommended);
