Double bollinger bands mt4 indicator

Double bollinger bands mt4 indicator

Posted: Date: 25.05.2017

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Search this thread only Search this forum only Display results as threads. Menu Forums Forums Quick Links. Forex Articles Quick Links. The Forex War Room Forum. Jul 21, Messages: Hello all, I found this strategy on another forum and it seems to me that it works great for swing trading on 4 hour chart. You can Google for that name or I will mention the other forum if Dale approves.

This is how to setup the charts. Add 2 sets of Bollinger Bands: Use the default settings for the first Bollinger Bands: It prints an arrow when the trade entry specifics mentioned below are made. Here is how the trade setups form based on the Double Bollinger Bands Trading Strategy: To go long to buy , you have to wait for one of the candlesticks to close above the BB deviation 1 upper band. Then you should check the previous two candlesticks to see whether their close prices are below the BB deviation 1 upper band or not.

If so, you have a long trade setup buy signal , and you can go long buy at close of the candlestick which has broken below the BB deviation 1 upper band. To go short to sell , you have to wait for one of the candlesticks to close below the BB deviation 1 lower band. Then you should check the previous two candlesticks to see whether their close prices are above the BB deviation 1 lower band or not. If so, you have a short trade setup sell signal , and you can go short sell at close of the candlestick which has broken below the BB deviation 1 lower band.

Akiee and DOGFight like this. On the posted chart, you will see there are 2 sell signals, the second would be a loss. However, I found another indicator that filters that signal out and also makes the entries and stops very easy to locate.

It is the Bollinger Bands Stop v2 and added to that chart, looks like this.

Now stop loss placement is a personal thing, and you can experiment or back test this all you want; just don't nag me about it I have a wife for that What I do is, use the opposite BB deviation 1, and put it there, easy, if price gets back there, you are wrong, market changed, news, whatever!

Set up the Fibo tool to guide you with this. Also, entry will never be exact, don't sweat it, use a zone, or watch for retracement, depends on time of day too. Okay, that's all for now, I will post any signals I see for the next week or two, and re-evaluate from there.

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Engulfing Bar Alert v1. Simon Faith Lim and kwkiu like this. No questions, comments yet? Well, it is Sunday I guess, so I'll carry on as my personal trading guide for the coming week s One thing I probably didn't state clearly enough, the 'official' trade entry signal is the CLOSE of the first candle beyond the Bollinger Band In this example, you can see that a candle close above the BB and therefore the signal entry cannot be the red line on the BB itself.

double bollinger bands mt4 indicator

Another thing I will be watching is Pivot Points, Weekly on the 4 Hour and Daily on the 1 Hour Here price has dropped early in the week and now recovered to close near the WPP, and notice the entry zone I make allowance for. This price action was at New York open, when I am in bed usually, but the 1 Hour chart shows an example of retracement to watch for Very often during the Asian session, price will retreat as everyone has moved their stops up to protect profits So this is a good thing, 12 hours after the signal, we are still able to get a great entry at the Daily Pivot and BRN is a bonus!

Personally, I would have no problem buying this market dropping to Daily PP in Asian session; how about you? This is at 1 to 1 Risk Reward, so be interesting to see what happens on Monday opens! Still early Asian session Monday on March 7, A possible trade entry on the CAD-CHF, about 60 pips stop loss, might be tempted to see what happens. Again, still early Asian session, the only other setup that I can find near an entry line.

EUR-CAD had a great run down, NFP made some wild swings on 4H candles, maybe time for retracement up?

Scalping ideas (ADX and Bollinger bands) | Forex Strategies & Systems Revealed

There were some wild swings so I think a good thing to protect account. Muhammad Ishaq Forum Newbie. Mar 8, Messages: Nov 15, Messages: This is awesome Erebus! Appreciate your selfless devotion to help us. Jul 24, Messages: Did I miss something?

double bollinger bands mt4 indicator

What is the BB with Deviation-2 used for? Nov 20, Messages: My first time heard this strategy was posted by nick name Kang Gun in forexindo.

Basically it's statistical idea that if price past upper BB SD1, that would means trending UP, if price past below BB SD2, that would means trending DOWN. If price within upper and lower BB SD1, that would means price statistically is in RANGE.

With this simple statistic idea, you then cam build your own strategy. Don't forget also the basic strategy of BB when it's forming FLAT. This is the very first time explanation by Kang Gun, before explaining the SD1 statistic idea above: When the BB is flat, it's the best statistically easier to predict of price direction, and at first Kang Gun only loves to trade when the BB is flat.

When the BB is flat, and touch the UPPER SD2 or even UPPER SD3, it's statistically only to the maximum SD3 anyway, the price will go in range and then try to reach the LOWER SD2. Of course it applies vice versa. With this simple idea, you then can build your own strategy. After these 2 things about how to trade statistically, Kang Gun then wrote too much another statistical idea stuffs with another strategy and made people confuse and not consistent with his own strategy at all.

So then I forget this idea and put it safely in the my memory as an archive, and I now only trade pure price without indicator at all. Here is a set up on CAD-JPY that also has Price Action of breaking down from a Rising Wedge; I'll watch for minor retrace as I have other positions open already.

Apr 9, Messages: Hi Erebus, I do use this system for about 7 months now in addition to other systems. And off course completed by the knowledge Dale thought us. It's quite a profitable system and able to catch trends from the beginning but works even better if: I only use it on the daily as you can clearly see how the H4 has quite some false signals depending on the pair.

When trading the DAX I use the on the H1 because the daily can be very choppy. Nov 12, Messages: Hi Erebus, would you mind please explain how to use "Bollinger Bands Stop v2"? Jan 17, Messages: Jan 25, Messages: E are you still using this? I've always used bands and heard about this but never actually heard from someone directly that this works? You must log in or sign up to post here. Share This Page Tweet. Do you already have an account?

No, create an account now. Yes, my password is: Members Online Now yogimaster Total: New Profile Posts Corey3x Instagram wallstcj. John Greene Hello anyone still using double Bollinger band strategy to trade profitably.

I need to be guided on how to filter out unprofitable trades. How can send you a personal message? Dirk Groenewald Still in the learning Phase. Happy to be part of the War Room traders! Toggle Width Home Contact Us Help Terms and Rules Top.

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