13# Bollinger Bands Bounce Trading System
Submit by Joy22
This system works on any charts; I prefer using it on 4H and 1H charts.
Be sure to backtest it before you try it on any other time frame.
Indicators
Bollinger(20)
Entry
Rules
Entry is made after price bounces from Bollinger's Moving Average, when the Moving Average is trending (pointing up or down).
After price has bounced from MA (Created a bullish candle for long trades or bearish for short), place stop order 1 pip above the candle (for long) or below the candle (for short). Watch examples
for clarifications.
Stop Loss is 1 pip below low of the previous bar (for long trades), and 1 pip above high of
previous bar + spread (for short trades).
Trailing
Stop
This is what this system is all about.
Stop Loss is trailed to 1 pip below lowest low of last 4 bars (for long trades) and to 1 pip above highest high of last 4 bars (for short trades). Exits are done only by the trailing
stop
Share your opinion, can help everyone to understand the forex strategy.
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