Fractals S&R with Double Bands trading strategy for bounce trading

Strategy Fractals S&R with Double Bands - A profitable trading strategy designed to trade on a rebound from levels.

It is based on the use of fractal support and resistance levels in combination with two Bollinger Bands. In addition to the usual trading in currency pairs, the strategy Fractals S&R with Double Bands is also suitable for trading binary options.

Input parameters

• Currency pairs: major currency pairs, indices, gold, bitcoin, oil
• Time frame: M1 or higher, for binary options expiry time 1-3 candles
• Bidding time: any
• Risk management: after calculating the stop-loss, choose this lot sizeto risk no more than 2-5% of the deposit per trade.

Used indicators

• Bollinger Bands (period 22, deviation 2.0);
• Bollinger Bands (period 22, deviation 1.0);
• Fractals ajoustable price breakout (period 34).

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 Frac with BB

The schedule should look like this:

Signals indicating the opening of a long position (buying)

• Formed level of support from the blue points below both Bollinger Bands
• The price rebounded from the formed support level and returned to the borders of the Bollinger Bands
• Price crosses the lower boundary of the blue Bollinger Band

Signals indicating the opening of a short position (sale)

• Formed resistance level of red dots above both Bollinger Bands
• The price rebounded from the formed resistance level and returned to the borders of the Bollinger Bands
• Price crosses the upper boundary of the blue Bollinger Band

Setting Stop Loss and Take Profit Orders

• Stop-loss is set above/below the green Bollinger Bands
• Warrant Take Profit can be set in two ways: conservative - at the middle or far boundary of the blue Bollinger bands, aggressive - at the opposite boundary of the green Bollinger bands.

The trading strategy Fractals S&R with Double Bands has simple rules and will not cause difficulties even for novice traders.

We do not recommend using the strategy before, during and immediately after the release of important macroeconomic publications. Before using it on a real account, be sure to test the Fractals S&R with Double Bands trading strategy on a demo account.

Download Fractals S&R with Double Bands Strategy Template and Indicators

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