Awesome and Bollinger Bands Scalping

Awesome and Bollinger Bands Scalping

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    1. Trade between 3:00 am to 11:00 am ESDT(Eastern Standard Time)

      Time Frame 5 minutes

      Pairs: Majors

    2.  

    Indicators:

    Bollinger bands (20; 2)

    Awesome

    MACD (12, 26, 9)

  1.  
  2. Long Entry
  3. AO(Awesome oscillator ) is turned green and is placed above the zero level. 
        1. MACD green band is above red band.
        2. MACD histogram is above zero level.

        One bullish candle has to close above mid BB and enter immediately at the open of next
        candle if the rest of components agree to each other.

        What to look for. Bullish candle has to close above mid BB and pull trigger to go long
        as soon as the candle that crosses mid bb closes.

Short Entry

  1. One bearish candle has to close below mid BB and enter immediately at the open of next candle.

Candle has to close below mid BB and pull trigger to go short as soon as the
candle that crosses mid bb closes.

 AO(Awesome oscillator ) is turned red and is placed below the zero
level.

 MACD red band is below green band.

 MACD histogram is below zero level. 

Exit

Place stop
loss
 if Going Long, three pips
under mid BB if candle closes in selling area.If going short, place stop loss three pips above mid BB if candle closes in buying area.

Profit Target 6-10 pips

 

The rules of the system in the pictures below.

 

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  • Platform: Metatrader4
  • Currency pairs: Any pairs, indices and metals
  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • How to install MT4 indicator?
  • 1. On the desktop, double-click to open the MT4 trading platform software you installed.
  • 2. Click on “File” – “Open Data Folder” in the upper left corner, double-click the MQL4 folder, and double-click the Indicators folder
  • 3. Copy the metrics you need to install to the Indicators folder
  • 4. Open MT4, find “Navigator” in the display menu, then click “Technical Indicators” of “Navigator” and right click to refresh, you will see the indicator just copied.
  • 5. In the “Technical Indicators” of “Navigator”, find the indicator file just installed, double click or click manually to the chart window
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