The Bollinger, ATR Bounce Swing Forex Trading Strategie is now available for download on AtoZ Markets' indicators gallery.
This strategy combines ATR and Bollinger bands. Bollinger Bands are a popular indicator that uses channels or bands, but there are other band-based indicators. Although they may have different ways of computing and plotting bands, they work if you provide the correct parameters.
Bollinger ATR Bounce Forex Trading Strategy
Many traders are familiarized with Bollinger Bands and its use. The indicator uses the standard Bollinger Band but also includes a second set, which are based on the Average True range (ATR). This indicator has two outer bands that could be used as a zone of support or resistance.
This area will be traded whenever there is a candlestick that has wicks that indicate rejection. Trades with long candles will not be accepted because they signify a rapid shift in market sentiment. These candles are only good for trading if there is a candle or a period of time between the candle and the trade.
We will wait for the pin bar candle to appear before we take any trades. We will wait for the average price to cross the threshold before we take any trades. We will use a different indicator to determine our average price: the TMA custom indicator. This indicator could be described as a moving average that is smooth.
Although we are taking notice of a possible trade whenever price bounces off the outer bands of the toptahlil_bollinger_and_atr_band, if we take the trade too early, we could still be trading against the trend. We will wait for the price to cross the TMA custom indicator before we trade. Instead of waiting for price to bounce off the outer bands and then trading, we will wait until the trend change is confirmed.
Timeframe 1-hour and 4-hour charts
Currency Pair: Any
How do I download and install an indicator
These steps are required to install the indicator onto your MT4 platform.
- At the bottom of your screen, click on the " download indicator" button.
- Save the file to your hard drive.
- Move the files to the MT4>Indicator directory in the MetaTrader5 software folder.
- Start your Metatrader platform.
- Navigate to " Indiators."
- To apply the template " Bollinger Forex Trading Strategy", select it.
Notice: This indicator was created by Jack. AtoZ Markets has no copyrights to this trading tool.