BolliToucher Reversal Trend Trading Strategy for Day Trading
BolliToucher Reversal Trend Strategy is intended for intraday trading, but can also be used for trading binary options. In addition, the strategy can be used on Renko charts, which increases its profitability.
Input parameters
- Currency pairs: any, including cryptocurrencies
- Timeframe: M5 and above (for binary options expiration time of 3 candles), for Renko charts the "brick" size is 3 pips or more
- Trading times: London, New York
- Risk management: after calculating the stop-loss, choose the volume of the lot or option, so that the risk was not more than 2-5% of the deposit per trade
Used indicators
- Bollinger bands (period 20, deviation 2.5)
- BolliToucher (period 20, deviation 2.0)
- RSI filter (2)
- Renko scalp indicator (4, 12, 7)
- Slow Stochastic oscillator (20, 3, 5)
Setting up the price chart
- Unpack the archive
- Copy the template into the templates folder
- Copy the indicators to the folder MQL4 -> indicators
- Restarting the terminal
- Open the chart of the desired currency pair
- Install a template named BolliToucher
The schedule should look like this:
Signals indicating the opening of a long position
- the price rebounded from the lower boundary Bollinger Bands;
- Stochastic has crossed the 20 level from the bottom to the top;
- on the RSI filter indicator has formed a square of white color;
- on the Renko scalp indicator a white square was formed.
Signals indicating the opening of a short trade
- price rebounded from the upper boundary of the Bollinger Bands;
- Stochastic crossed the 80 level from top to bottom;
- on the RSI filter indicator has formed a square of purple color;
- on the Renko scalp indicator a square of purple color was formed.
Setting Stop Loss and Take Profit Orders
- stop-loss is set above/below the corresponding Bollinger Band;
- Take Profit is set near the middle line of the Bollinger Band.
To increase the effectiveness of the BolliToucher Reversal Trend strategy, we recommend opening trades only in the direction of the current trend, which can be determined on higher timeframes.
Before using BolliToucher Reversal Trend trading strategy If you have a real deposit, be sure to test it on a demo account.
Download BolliToucher Reversal Trend Strategy Template and Indicators
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