Fast RSI with Double Bands Trading Strategy for Binary Options, Scalping and Day Trading
Fast RSI with Double Bands trading strategy is intended for trade binary optionsbut can also be successfully used for scalping and intraday trading.
Input parameters
- Currency pairs: any
- Expiration time: 3-5 candles
- Timeframe (for scalping and daytrading): M1-M15
- Bidding time: any
- Risk management: choose such a volume of option (lot), so that the risk was not more than 2-5% of the deposit on one transaction
Used indicators
- Bollinger Bands (20, 2.0)
- Bollinger Bands (20, 2.5 - for M5 and M15; 20, 3.0 - for M1)
- Support and resistance line with zone S/R
- Connors RSI mod (period 3, up dawn period 2, ROC 100 period)
- Connors RSI (period 3, up dawn period 2, ROC 100 period)
- T3 RSI (2, 2, 0.618)
- T3 RSI (4, 4, 0.618)
- T3 RSI (8, 8, 0.618)
Setting indicators and system template
- Unpack the archive with templates and indicators
- Copy the indicators to the folder MQL4 -> indicators
- Copy the templates into the templates folder
- Restarting the terminal
- Open the chart of the desired currency pair
- Set the template with the name Fast RSI with Double Bands
The schedule should look like this:
Signals indicating the purchase of a Call option (opening a Buy position)
- The price pushed back from the lower boundary of the outer Bollinger Bands and crossed the lower boundary of the inner Bollinger Bands from below to above;
- RSI indicator is out of oversold areas and crossed the green line from bottom to top.
Signals indicating the purchase of a Put option (opening a sell position)
- The price pushed back from the upper boundary of the outer Bollinger Bands and crossed the upper boundary of the inner Bollinger Bands downwards;
- RSI indicator is out of overbought areas and crossed the green line from top to bottom.
Setting stop-loss and take-profit for scalping and intraday trading
- stop-loss is set at a distance of 3 pips from the upper or lower border of the external Bollinger Bands;
- Take Profit is set near the middle line of the Bollinger Bands or near one of the support or resistance levels.
Before using Fast RSI with Double Bands trading strategy on a real deposit, we recommend that you test it on demo account.
Download Strategy Template and Indicators
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