Bollinger Bands Overbought and Oversold Strategy

 Upper band is overbougth, Lower band is Oversold.

Standard formula is:

2 Standard deviation and 20 period moving average.

In this Bollinger Bands Strategy

look for momentum trend:

1) Buy when the trend is Oversold

Short when the trend is Overbought

Markets: any.

How to this:

Apply a longer term Moving Average;

Time frame 30 min or higher;

Bollinger Bands (20 periods,2 Standard deviation);

34 Moving average smoothed ;

Stochastic indicator (5,3,3).

How Bollinger bands Overbought and Oversold Forex strategy works

Buy when the price is oversold, Stochastic indicator also in oversold and crosses upward but also above the 34 period moving average smoothed.

Short when the price is overbought, Stochastic indicator also in overbought and crosses downward but also below the 34 period moving average smoothed.

Exit when the position trades back middle band, at the predetermined profit target,

or exit when the price close a bar below/above the moving average.

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onlineblogger Tags : Forex Indicator

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