50 Pips Bollinger Bands Forex System
As the name suggests, we are trying to make 50 pips from each trade with this simple Bollinger Bands system.
Although it’s primarily designed to trade the 1 hour charts, please feel free to test it on longer time frame’s as well.
Chart Setup
Indicators: Bollinger Bands (default settings), Forex_Trend_Signalsv1
Preferred time frame(s): 1 hour
Trading sessions: Any
Preferred Currency pairs: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD, USD/CAD + currency crosses
Download
Download the 50 Pips Bollinger Bands Forex System for Metatrader 4.
USD/JPY Hourly Chart
Both buy setups were successfully closed for +50 pips each. Green bar + touch or close above the upper band: Buy the pair.
Similarly, red bar + touch or close below the lower band: sell now. Click the image to enlarge.
Trading Rules
Buy Rules:
- Forex_Trend_Signalsv1 green colored bar (bullish trend)
- Price touches or closes above the upper Bollinger Band
Open buy order at the open of the next bar. Place stop at previous swing low or at -35 pips.
Take profit at +50 pips.
Sell Rules:
- Forex_Trend_Signalsv1 red colored bar (bearish trend)
- Price touches or closes below the lower Bollinger Band
Open sell order at the open of the next bar. Place stop at previous swing high or at -35 pips.
Take profit at +50 pips.
