Hi,
I will try explain a system that I use with success. This system is called "BB Scalping"
( in the rules I write about m15/m5 but h1/m15 or h4/h1 works well to )
Template Setup:
I will try explain a system that I use with success. This system is called "BB Scalping"
( in the rules I write about m15/m5 but h1/m15 or h4/h1 works well to )
Template Setup:
- Blank chart just with default Metatrader 4 Heiken Ashi candles
- Default Metatrader 4 ADX indicator
- 1 default Bolliger Band with a deviation of 1
- 1 default Bolliger Band deviation of 2
Timeframes used:
- 15 minutes TF to search for a good setup
- 5 minutes TF to trade
How it works:
- Search for pairs that are trending (ADX >25) on our 15minutes TF
- On our 15 minutes TF we search for HA candles with a good setup. Sell sign candle is a red candle with no or small wick over and long wick under and big body. Buy sign candle ia a white candle with no or small wick below and long wick over and big body.
- To enter long (Buy) we need to see our buy candle placed on the upper mid-high off our BB
- To enter short (Sell) we need to see our sell candle placed on the lower mid-low off our BB
- After we found a good setup we switch to our 5 minutes TF and wait for a similar setup as found in our 15minutes TF. Then we can enter the trade.
Exit Rules:
- The safest way to exit this trade is when our HA candle on 5minutes TF closes with a really small body and wick below and above the body (similar to a doji bar), closes in a diferent color. or moves to the other side of the BB.
- If you can deal with it just exit when our 15 minutes HA candle closes with a really small body and wick below and above the body (similar to a doji bar), closes in a diferent color or moves to the other side of the BB.