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37# Bollinger Bands with fast RSI

Reversal Trading with Bollinger Bands and Momentum

Trading Reversal

ubmit by Mario 2017

 

 

Bollinger Bands with fast RSI is a reversal trading system based on Bollinger Bands and Momentum. This strategy find reversal when the price comes out of the bands, RSI is used as a filter to select the best entries.

Time frame 5 min or higher.

Currency pairs: EUR/CHF, AUD/USD, GBP/JPY, USD/JPY, GBP/USD, EUR/USD, USD/CAD, AUD/JPY but for 5 min, 15 min and 30 min time frame only the majors with low spreads.

 

Forex Indicators:

Bollinger Bands ( period 20, deviation 2.5).

RSI 4 period close with levels 20-15 and 85-90.

 

Trading rules Bollinger Bands with fast RSI

Buy

Price go out the lower Bollinger Band.

The RSI line is below levels 20 or go below levels 15 and after come back above 20 levels. Open a buy order at opening of the next bar.

Place initial stop loss below the low swing.

Make profit with ratio stop loss 1:1 or at the middle band.

 

Sell

Price go out the upper Bollinger Band.

The RSI line is above levels 85 or go above levels 90 and after come back below 85 levels. Open a sell order at opening of the next bar.

Place initial stop loss above the high swing.

Make profit with ratio stop loss 1:1 or at the middle band.

 

 

Apply this template to more currencies simultaneously and time frames because it does not generate many signals.

In the pictures Bollinger Bands with fast RSI in action.

Bollinger Bands with fast RSI
Bollinger Bands with fast RSI
Bollinger Bands with fast RSI
Bollinger Bands with fast RSI
Bollinger Bands with fast RSI
Bollinger Bands with fast RSI

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Bollinger Bands with fast RSI
Bollinger Bands with fast RSI
Bollinger Bands with fast RSI.rar
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