188# Bollinger Bands and Stochastic

Submit by Joy22

Time Frame 1 min or 5 min.

Currency pairs: EUR/USD, USD/CHF

Forex Indicators:

Bollinger Bands: (1, 20;);

Bollinger Band: (2, 20);

Stochastic (5,3,3).

SETUP (EUR/USD)

Long Entry

1) the low of the bar is lower than the lower bollinger bands (deviation 1);
 
2) the Fast Stochastics (line D) is lower than 20 or cross up from the bottom;

3) if you look back their the previous candle is with a close at least 4 pips lower than the current candle (1 min time frame) and a close at least 8 pips lower the current candle (5 min time frame).(USD/CHF 3 pips 1min, and 5 pips 5min).

The Trading System closes a long when

1)  the high of the candle broken  the upper bollinger band deviation 1 or touches the upper bollinger band deviation 2.
2) Stop loss on 3 pips below the lower bands of the BB deviation 2.

The Forex System closes a short when
1)  the high of the candle broken  the lower bollinger bands deviation 1 or touches the lower bollinger band deviation 2.
2) Stop loss on 3 pips above the lower bands of the BB deviation 2 or 10 pips EUR/USD and 8 pips USD/CHF.

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