Forex Scalping Strategy With Bollinger Bands

Scalping the GBP/USD and EUR/USD 5 min trading charts with Bollinger Bands. This strategy works best in a range-bound market environment characterized by almost flat horizontally aligned Bollinger Bands.

Scalping Setup

Indicators: Bollinger Bands with default 20,2 settings
Preferred time frame(s): 5 min
Trading sessions: EUR, US
Preferred Currency pairs: GBP/USD, EUR/USD

Download

Download the Forex Scalping Strategy With Bollinger Bands for Metatrader 4.

GBP/USD Chart: Strategy Example

gbpusd-bollinger-bands-scalpingWe had 7 winning trades and only 1 loss, as shown in the chart above (click the chart to enlarge).

Trading Rules

Buy Rules:

  • Bollinger Bands needs to be almost flat (range trading)
  • The price touches the lower Bollinger Band

Open BUY position. Set stop loss at 10 pips below the entry price. Close the trade at the upper Bollinger Band.

Sell Rules:

  • Bollinger Bands needs to be almost flat (range trading)
  • The price touches the upper Bollinger Band

Open SELL position. Set stop loss at 10 pips above the entry price. Close the trade at the lower Bollinger Band.

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