273# Trend Wave and Bollinger Bands Scalping system
Trend Wave indicator
Contrarian Forex Strategy
Submit by JanusTrader 25/12/2012
Trend Wave and Bollinger Bands Scalping system is an contrarian forex strategy.
Time Frame 5-15 min
The TrendWave indicator features a sophisticated algorithm which enables it to detect reversals in an accurate manner ahead of other reversal indicators making it a reliable leading indicator. The beauty of this indicator is that is does not generally trigger signals during choppy sideways markets. It does not paint in arrears and most importantly, it does not repaint.
1) Bollinger Bands(50) deviation 2 color red;
2) Bollinger Bands(50) deviation 3 color orange;
3)Bollinger Bands (50) deviation 4 color yellow;
4) Trend Wave indicator
arrow buy is confirmed if the price has broken orange or yellow upper band .
arrows sell is confirmed if the price has broken orange or yellow lover band .
Take profit on previous band on the middle band or fast profit.
Stop loss 2pips above or below yellow band.
In the pictures Trend Wave and Bollinger Bands Scalping systemin action.
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Bollinger Bands Forex Strategies