600# Dual Band with Stochastic
Submit by Freddyforex 22/10/2014
Dual Band with stochastic is a trading system based on E-75 indicator mix between Stochastic and bands. This is a indicator for binary options and scalping that I have used for this personal forex reversal strategy.
Time Frame 4H
Currency pairs: EUR/USD, GBP/USD, USD/CHF, AUD/JPY, USD/JPY, NZD/USD, USD/CHF, EUR/JPY, USD/CAD, CAD/JPY, GBP/JPY, AUD/USD.
E-75 (Stochastic and two bands),
1a price action indicator,
EMA 20 (median price smoothed).
Rules for Dual Band with Stochastic
To find the currency pairs in range market (reccomanded).
You can to trade with 6-8 currency pairs, if there are currency do not not correlated is good.
When the price of the currency pair broken the upper bands, wait that the price came back into the bands. After when the price action indicator draw red dot and stochastic indicator crosses downward go sell.
When the price of the currency pair broken the lower bands, wait that the price came back into the bands. After when the price action indicator draw blue dot and stochastic indicator crosses upward go buy.
for buy place intial stop loss on the previous low swing;
for sell place intial stop loss on the previous high swing;
Make profit 2 pips before Ema 20.
In the pictures Dual Band with Stochastic (E-75 reversal Trading) in action.