Power Forex Bollinger Band Strategy For MT4

Power Forex Bollinger Band Strategy For MT4

The Power Forex Bollinger Band Strategy For MT4 is for fifteen-minute and higher charts. You can use this trading system to trade every currency pair availed to you in forex. It is a trading strategy – just like all trading strategies – that will demand your patience but almost every trade will be worth taking hindsight.

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We will be using a 250 period Bollinger bands indicator which is attributed with a deviation of 2. Then we have an 80-period EMA line. Furthermore, we also have a Stochastic indicator. This stochastic oscillator has a period of 100. You will notice that it has two horizontal lines going across its indicator window. The one line is green which is the 60 level and the other line is the 40-level line which is red.

Paying attention to see whether just three sub-requirements or conditions are being met will trigger the actual opening of your buy and sell orders. When wanting to trade up – you can open a buy when the price is trading above or over the 250-period Simple Moving Average. Then next, you need to ensure or check that the 80-period EMA is above the 250 MA line.

Lastly, the stochastic oscillating line must be above the 60 line which is marked in green. When you have all these three elements working in order then you can open your buy position or order. Set your SL at the low of the lower 250-period BB line. Your take profit goes twice the distance of your SL above your entry position. When wanting to trade down – you can open a sell when the price is trading below or under the 250-period Simple Moving Average.

Then next, you need to ensure or check that the 80-period EMA is below the 250 MA line. Lastly, the stochastic oscillating line must be below the 40 line which is marked in red. When you have all these three elements working in order then you can open your sell position or order. Set your SL at the high of the higher 250-period BB line. Your take profit goes twice the distance of your SL below your entry position.

Download the complete system description and the files here:

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