Bollinger Bands Scalping System is a combination of dual Bollinger Bands with different parameters and Trend Signal version2. Thus, it signals both the overbought/oversold conditions of the market and the trend directions.
It generates the signals with better accuracy and proven winning results according to the backtest reports. Besides, its straightforward approach while signaling the trades has made it be called one of the best Forex trading strategies at the market.
Bollinger Bands Scalping System is applicable at any Forex currency pair window and fits great with all sorts of time frame charts. Therefore, traders from all levels can try this amazing Forex trading strategy as their everyday trading solution.
Bollinger Bands Scalping System Overview:
After the installation of the Bollinger Bands Scalping System at your Forex MT4 terminal, your trading chart will be looking like as the following image:
|Time Frame||Currency Pairs||Indicator Factors||Ratings|
Bollinger Bands Scalping System Anatomy:
- INDI#1: It reacts more quickly with the price action changes than INDI#2 and spots the oversold/overbought conditions on the basis of the shorter period of price data readings. It always remains inside the INDI#2 indicator levels.
- INDI#2: With the comparison to INDI#1, it reacts a bit slower with the price action changes. It focuses on long-term price changes and generates its signals on the basis of longer-term data readings.
- Mid Band: This level is used to measure the strength of the current trend. Price closing/holding above its level signals the bullish strength. Price closing or holding below the Mid Band is considered as the bearish strength.
- Trend Signal V2: It plots the possible swinging area of the trends with its up/downward arrows around the price bar. Its arrow signals are counted only when they are plotted close to the INDI#1 &2 levels.
Check Over: Most Successful Forex Trading Strategy
Bollinger Bands Scalping System: Buy Parameters
- Price bounces upwards from the lower bands of INDI#1 or INDI#2
- Trend Signal V2 plots an upward arrow
- Buy triggers when the above conditions are met
- Set stop loss below the low of the signaling candle
- Hold your long entry until price remains above the Mid Band level
- Exit long/take profit once price hits the upper bands of INDI#1 or INDI#2 and Trend Signal V2 plots a downward arrow at the same time
Bollinger Bands Scalping System: Sell Parameters
- Price bounces downwards from the upper bands of INDI#1 or INDI#2
- Trend Signal V2 plots a downward arrow
- Sell triggers when the above conditions are met
- Set stop loss above the high of the signaling candle
- Hold your short entry until price remains below the Mid Band level
- Exit short/take profit once price hits the lower bands of INDI#1 or INDI#2 and Trend Signal V2 plots an upward arrow at the same time