Bollinger band and awesome oscillator is used on this trading strategy. This is very easy to find signal with this strategy. If you follow the condition of this strategy, then you can make profit from this. This strategy is suitable for trend following pairs.
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1) Awesome Oscillator. click here to know, how to set Awesome Oscilltor
2) Bollinger Band. click here to know, how to set Bollinger Band indicator
You may download the full template for this trading strategy from the following link: Download Here
How to setup a Template:
Copy the Template >Open your mt4 terminal > Click files > Click "open data folder"> Click Templates> Paste the Template
How to get buy signal
First market price needs to break middle line of the Bollinger band indicator from lower to higher. At the same time, awesome oscillator needs to turn green bar or above 0.0 line. Then you will get buy signal according to this strategy.
Check the chart example of below picture, on first buy setup, candle crossed middle band line and awesome oscillator was above 0.0 line. This was a buy setup according to this strategy
On the second buy setup, candle broke Bollinger band on the middle line and oscillator was above 0.0 level. So this was also good buy setup and from that entry, traders would get around 50-60 pips.
How to get Sell signal
First market price needs to break middle line of the Bollinger band indicator from higher to lower. At the same time, awesome oscillator needs to turn red bar or below 0.0 line. Then you will get sell signal according to this strategy
Check the chart example of below picture, on first sell setup, candle crossed middle band and oscillator is below 0.0 line. So this is exact sell signal according to this strategy. Traders would get at least 200 pips from this sell setup.
On the second sell setup, candle broke and oscillator was below 0.0 line. So this was another setup and profitable signal also.
Preferred Time frame: H4 is preferable. M30 and H1 for scalping.
Currency pairs: All pairs.
Take profit and Stop loss:Take profit should be based on time frame. Minimum take profit 30 pips, you can target 80-150 pips profit.
Stop loss need to be placed above swing high for sell signal and below swing low for buy signal.
Risk warning: You need to avoid ranging market during following this strategy. You have to follow money management theory for following this trendy strategy. Before using this strategy, you need to practice this on demo account.