Bollinger bands strategies forex
Here is a simple scalping strategy on the one minute chart. When the price penetrates the upper band and the RSI is above 70 consider entering short and exit at the center line or pips.
This strategy is effective in a ranging market. If there is a trend, wait for the price to penetrate the center line indicating the trend is over before entering long or short.
The interesting part is that it not always possible to backtest it, or find enough examples on the historical charts, because when price breaks the upper Bollinger line and RSI is approaches 70, the RSI indicator will cross 70 for a short moment, giving you a signal.
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When you open a trade and make a few pips pips just enough before the price start reversing, the RSI will be pulled back below 70 often without leaving any chart evidence of ever being above I use this system what I do is wait for rsi on long trades to break down back bollinger bands strategies forex 30 and down below 70 for short.
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Who's online There are currently 10 users online. Submitted by User on February 12, - The second indicator is RSI at the default settings. When the price penetrates the lower band and the RSI is below 30 consider entering long.
For confirmation, you can add Stochastics at the default settings. The interesting part is that. I use this system what I do.
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