Bollinger Band Grid Forex Trading Strategy is based only in 2 Bollinger bands indicators after the opening of the first position using a grid of orders in case the price has gone in the wrong direction. This is applicable to any currency pairs. It works best in 15, 30 and 60 minute timeframe. You can use this at any market sessions.
Forex Indicators:
- Bollinger bands (100, 2).
- Bollinger Bands (100, 3).
Timeframe: 1-hour or 4-hour chart
Currency Pair: any
Session: any
How to trade with Bollinger Band Grid Forex Trading Strategy?
Long Entry:
- Price must touch off the lower boundary of the blue Bollinger.
- Open a buy position with target profit points and without stop loss.
- After every 30 pips (depends by currency pair ) below the entry point of exhibiting the pending orders to buy without stop-loss with martingale 1.5.
- Close the orders when gaining.
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Short Entry:
- Price must touch off the upper boundary of the blue Bollinger.
- Open a sell position with target profit points and without stop-loss.
- After every 30 pips (depends by currency pair ) above the entry point of exhibiting the pending orders to sell without stop-loss with martingale 1.5.
- Close the orders when gaining.
How to download and install an indicator?
In order to install the indicator on your MT4 platform, you need to follow these steps:
- Click on “Download Indicator” button located at the bottom of the post.
- Save the file to your computer.
- Extract and move the files into MT4>Indicator folder of the MetaTrader4 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators.”
- And select “Bollinger Bands Grid Forex Trading Strategy” template to apply it on the chart.
Note: This indicator was developed by T. Morris. AtoZ Markets does not carry any copyrights over this trading tool.
Should you trade using Bollinger Bands Strategy on your own at all?
Before you start trading with Bollinger bands, you'll want to read this.
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