57# Scalping with Money Flow Index and Bollinger Bands
Submit by Joy22
Time Frame 5min
Pairs: EUR/USD, AUD/USD, GBP/USD
Bollinger bands (20, 2)
Money Flow Index (8).
when the Money Flow Index is in overbought, the bid price close outside the
lower Bollinger band indicator line, wait candle
when the MFI is in oversold, the bid price close outside the lower Bollinger band indicator line, wait the candle bearish candle
Place Stop Loss on the upper or lower band.
Profit Target: AUD/USD 6 pips, EUR/USD 8 pips, GBP/USD 10 pips.
Share your opinion, can help everyone to understand the forex strategy.
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Write a comment
maxiiz (Friday, 06 January 2012 08:21)
thank you for forex scalping system
trader (Saturday, 18 February 2012 20:35)
i jsut made a million with this strategy! only i use bb(50) + adx(dont trade when its a above 32) + rsi(7) with levels 70 30. enjoy. have a nice day
john (Friday, 02 January 2015 18:37)
Good strategy can we apply to stocks & commodities as well
HIDDEN (Wednesday, 28 January 2015 01:39)
Hey trader.......you trade EURUSD or USDJPY