45# Illuminated Bands Forex Strategy
Reversal Trend Bollinger Bands Strategy
Illuminated Bands with Awesome and TMA angle
Submit by Dimitri
Illuminated Bands Forex Strategy is a reversal trend price action strategy based on slow Bollinger Bands, Zig zag fractal, Awsome oscillator and TMA angle.
The purpose of the illuminated Bands strategy is to identify the overbought and oversold areas on the chart through the bollinger bands when the price touches them or is off the bands, and then enter the inversion confirmed by the price action with the candle which closes above / below the 13-period moving average within the bands, RSI chart bars that change color and with a momentum indicator under the main chart window that confirms the inversion.
Time Frame 15 min or higher.
Currency pairs: Major, Minor and Commodities.
Metatrader 4 Indicators
Bollinger Bands period 40, deviation 2, shift 2.
RSI chart bars, period 7. RSI Chart Bar is the most important filter indicator of this trading system.
4x 2010 SEMA -4X (default setting).
Exponential Moving average 13 period, tipical price.
X-ZZ (defaul setting).
Diamond price action signals (defaul setting).
Below the main chart
TMA angle fast period 34, slow period 120.
Trading rules Illuminated Bands Forex Strategy
Price touches lower Bollinger Bands or is off the lower band.
Price action with the candle which closes above the 13-period exponential moving average within the bands,
RSI chart bars that change color from red to blue.
Momentum indicator under the main chart window that confirms the inversion Awesome oscillator bar green color or TMA Angle bar green color.
Price touches upper Bollinger Bands or is off the upper band.
Price action with the candle which closes below the 13-period exponential moving average within the bands,
RSI chart bars that change color from blue to red.
Momentum indicator under the main chart window that confirms the inversion Awesome oscillator bar red color or TMA Angle bar red color.
Note: the best conditions are formed when the price comes out of bands.
Place initial stop loss above/below the prvious swing high/low.
Profit Target Ratio Stop loss 1:1 at opposit band or when there are the possite conditions for entry.
Illuminated Bands Forex Strategy as filter of the Diamond price action signals
Buy arrow of the Diamond price action signals.
Sun Zig Zag below the price.
RSI blue Bar.
Awesome oscillator green bar.
TMA Angle green bar.
Sell arrow of the Diamond price action signals.
Sun Zig Zag above the price.
RSI red Bar.
Awesome oscillator red bar.
TMA Angle red bar.
Firs or second target of Diamond price action signals indicator.
Place initial stop loss ratio 1:1 first profit target.