Simple 15M Bollinger Band System
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Thread: Simple 15M Bollinger Band System

  1. #1
    Hey everyone. I appreciate ideas and all of the cool systems.
    Much appreciated! You are all wonderful.

    I really like that recent slope system... which
    could probably be used for this system also...

    Here's a new system I am growing. I hope you like it. Please
    tell me what you think.

    Chester B

  2. #2
    here's a sweet trade now for 21 pips on GBP/JPY....

    The trend was clearly up for a long time, the price was
    going between upper band and centre band, then when
    price abruptly touched the lower band, and reversed,
    it was time to go long. After quick price action, trail-stopped
    it and ended up with 21 pips.

    Even though the machine says to await price to touch middle line,
    it was already touching quite a little for this pair, so we wait
    for odd low, in this case touching the bottom band. In less
    volatile pairs, even a touch of the line would be rare,
    so use discretion...

  3. #3
    System that is cool Chester. I plan on trying it out in the new year.


  4. #4
    Here's a current action in EUR/USD...
    First, larger trend is basically up at least at the onset of the chart, so we want to go long.

    In point 1, we've trending action down. If we WERE going to go short
    though, because previous leadership was down, we would have to wait until price touches centre line.
    At stage 2, we see price fatigue because the outer coating is becoming touched
    less and less, and then we've got a bullish candle, mostly all body, not
    a good cause for this sort of commerce... So this would technically be a reduction trade of 10-15 pips or so (SL 5 pips lower compared to lower band)
    but if you saw the fatigue and candle you may not require it.

    And we see price go up...
    Now we're creating a great run up. Unfortunately here, there is no wick that
    reaches the middle band so we can't take the transaction...
    Currently price goes up and hastens and consolidates. THe rings narrow...
    Price action changes to consolidating (choppy) design, so our initial commerce,
    we go long at stage 3 and get out at stage 4.
    Again at stage 5. Hopefully we didnt set our stop too close with this one. 10 pips
    must pay for this tail. We get out at stage 6 if price action reaches the ring.
    Currently price action is at the top channel and we must wait patiently for it to touch
    the centre ant stage 7. And we get out again at stage 8.

    So thats 3 winning transactions here.

    * Just before stage 3, the price touches the center line, but I think price has already consolidated
    because the rings are so narrow. Nevertheless, if you took that commerce instead of waiting for price
    to fall to stage 3, you would make such as 5 pips maybe

    ** also notice now 5 to 7 and 6 to 8 are almost right on pivot points.

    The key to making this system work is to know where price is generally moving
    on another larger time period so you can trade with the trend.
    9. Now price appears to be heading down after stage 8 that forms a bear candle on 4H...
    So it appears we wish to be going short... We could ch this current touch on the
    centre line and set the stop 5 pips past the top ring. If we got in short today,
    we stay in short until we reach our stop loss or the opposite group.

  5. #5
    I believe that is used well with the pivot point squeeze by GCTrader using bollinger bands to determine when it is a fantastic time to exchange and where about in the market we are, usually after market breakouts especially the London opening session it seems that both A and B usually do the job really well, ps this functions on EURJPY also I believe,
    but fantastic writeup Chester keep the illuions coming

    Everyone happy holidays!

  6. #6
    Hello ChesterB

    What you think make an EA? How long you are using this TS? I ´ll not charge nothing, just share,

    therefore, we will lets see the possibilities and operate a few BackTests.

    Best Regards,

    Marcelo Marques

  7. #7
    Hi Chester

    Can you Include charts with your instructions for us

    Thanks and good luck

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