209# Without Volatility Scalping (ADX and Bollinger Bands)

Submit by Maximo Trader 21/04/2012

 

Time frame: 5 Min

Currency pairs: any

 

Forex Indicators:

ADX(13)

Bollinger Bands (20, 2)

 

 

Long Entry

 

 When the ADX is below 27, Wait for the prices to drop and touch the lower band. wait for the first candle to close back above the lower band, after buy.

 

Short Entry:

 

When the ADX is below 27, Wait for the prices to drop and touch the upper band. wait for the first candle to close back above the upper band, after sell.

 

Exit Rules:

 

Stop loss: for sell 5 pips above the upper band, for buy 5 pips below the lower band

Profit Target 5- 9 pips (GBP/USD 9 pips EUR/USD 8, AUD/USD 6 pips)

 

In the pictures Without Volatility Scalping (ADX and Bollinger Bands) in action.

 

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