The essence of this forex strategy is to transform the accumulated history data and trading signals. It provides an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye. Based on this information, forex traders can assume further price movement and adjust this strategy accordingly.
The package includes Bollinger Bands (20, 2), Pin Bar, Jma Starlight (2, 3) and 5 EMA indicators and works well on a 4-hour chart.
How to trade with Pinbar and Bollinger Band patterns trading strategy?
- Pin Bar must touch lower band of the BB.
- Buy when JMA Starlight cross up 5 EMA.
- Pin Bar must touch upper of the BB.
- Buy when JMA Starlight cross down 5EMA.
- Enter in the market only if the pin bar touches the upper band or lower.
- For buy 5 pips below the lower bands.
- For sell 5 pips above the upper band.
- 35-60 pips depends on currency pairs.
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 screen.
- 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 “Pinbar and Bollinger Band patterns trading strategy” template to apply it on the chart.
Note: This indicator was developed by ForexMT4Indicators. AtoZ Markets does not carry any copyrights over this trading tool.