BOLLINGER-RSI DAY-TRADING STRATEGY

Trade the Forex majors by combining the Bollinger Bands and RSI


TRADING STRATEGY

Style: Day-Trading Strategy

Name: Bollinger-RSI Trading Strategy

FINANCIAL ASSETS

Forex Majors



TIMEFRAME

■ M5 timeframe (5-Minutes)

■ 5-7 daily trades



INDICATORS & SETUP

As the name of the strategy suggest we shall use two indicators, Bollinger Bands and RSI. This is an easy to implement trading strategy which may prove considerably profitable given the right market conditions.

Setting the Bollinger Bands and RSI:

Bollinger Bands

(i) 12 Periods instead of the standard 20 periods

(ii) Deviations 2

(iii) Shift 0

■ RSI

-The standard settings (14,9)



TRADING SIGNALS

This is how you may implement the Bollinger-RSI Day-Strategy which can also be used as a scalping strategy.

■ (↑) Long Trades

When EURUSD reaches the lower Bollinger Bands and RSI is found 30 or lower you execute a Long (bullish) trade.

■ (↓) Short Trades

When EURUSD reaches the upper Bollinger band and RSI is 70 or higher you execute a Short (bearish) trade.



TRADING ORDERS

Setting the Bollinger-RSI Scalping Strategy:

■ Take Profit: 50-70 pips

■ Stop-Loss: 20-25 pips

■ Profit/Loss Ratio: 2.5


CHART: Bollinger-RSI Day-Trading

Bollinger-RSI Scalping


FIND ALSO: ► EA BUILDER TESTER | ► GET STARTED WITH FOREX | ► TRADE SYSTEMS

STRATEGIES: ► DAY-TRADE | ► SWING-TRADE | ► SCALPING STRATEGY | ► BINARY STRATEGIES

FOREX RATINGS: ► DIRECTORY | ► TRADE SPREADS | ► FOREX SCALPING | ► SWAP RATES | ► FUNDS SAFETY

 

Bollinger-RSI Day-Trading Strategy

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