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Bands and Bars Trading Strategy

Amandeep Sonewane | Apr. 23, 2019
Bands and Bars Trading Strategy

You can now download the Bands and Bars Trading Strategy for free on AtoZ Markets indicators gallery. This trading strategy comes with a package which consists of an interactive template and forex indicators. Traders can use MA angle indicator and MA Bands to analyze the market trends.

Bands and Bars Trading Strategy works well on 1H and above time frames and any currency pair.

The MA Angle Indicator

Many traders have been fascinated by the way moving averages makes trading a bit more harmonized. It makes it easier to decipher which way price is more likely to go. One of the things that have caught the minds of many traders is if it is possible to measure the angle of the moving average. This is because steep moving averages are usually the case when the market is strongly trending.

The MA Bands

Another indicator that has caught the minds of many traders are indicators that have some sort of upper and lower bands, like the Bollinger Bands. These types of indicator usually have a midline that derived from some sort of moving average and the likes, only that an upper and lower band is added around it, which usually is a deviation from the middle line. These upper and lower bands act as a marker to identify overbought or oversold price conditions, which could eventually result in a reversal.

How to trade with Bands and Bars Trading Strategy?

Buy (Long) Trade Setup

Entry

  • MA Angles histogram should be green
  • Price should have touched or is below the lower outer band
  • A blue arrow pointing up should appear
  • Enter a buy market order at the close of the candle with a confluence of these rules

Stop Loss

Set the stop loss at the swing low below the entry candle

Exit

Close the trade when a red arrow pointing down appears

Sell (Short) Trade Setup

Entry

  • MA Angles histogram should be red
  • Price should have touched or is above the upper outer band
  • A red arrow pointing down should appear
  • Enter a buy market order at the close of the candle with a confluence of these rules

Stop Loss

Set the stop loss at the swing high above the entry candle

Exit

Close the trade when a blue arrow pointing up appears

How to download and install an indicator?

In order to install the indicator on your MT4 platform, you need to follow these steps:

  1. Click on “Download Indicator” button located at the top right corner of the screen.
  2. Save the file to your computer.
  3. Extract and move the files into MT4>Indicator folder of the MetaTrader4 software file directory.
  4. Restart your Metatrader platform.
  5. Navigate to “Indicators.”
  6. And select “Bands and Bars Trading Strategy” template to apply it on the chart.

Note: This indicator was developed by fxtradingrevolution. AtoZ Markets does not carry any copyrights over this trading tool.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.