Stochastic, Bollinger Bands and LWMA’s

 

Time Frame 5min

Currency Pairs :

Volatile: GBPJPY, GBPCHF,
EURJPY

Majors: EURUSD, AUDUSD and GBP/USD

Indicators:

Stochastic (5, 3, 3),

2 LWMA
H/L (White), 40 LWMA Close
(yellow),

Bollinger Bands (20, 2).

Pivot
indicators.

Long Entry:

Stochastic (5,3,3)>50 > Stochastic (18, 5,3).

2 LWMA
H/L above middle band
of the bollinger Bands and above 40 LWMA
.

No Entry if Stochastic is
in Overbought 

RE-Entry: wait retracement Stochastic on the 50 level line.

 

Short Entry

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Stochastic (5,3,3)<50 < Stochastic (18, 5,3).

2 LWMA H/L below middle band of the bollinger Bands and below 40 LWMA
.

No Entry if Stochastic is in Oversold

RE-Entry: wait retracement Stochastic on the 50 level line.

Exit position:

Stop loss 10-12 pips or previous swing.

Profit Target: First at levels pivot, or predetermined Profit Target 6-9 pips
Majors pairs, 9-15 pips volatile pairs.

 

In the pictures Stochastic, Bollinger Bands and
LWMA’s
scalping system in action.

 
 
 

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strategy.

  • 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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