The Bollinger Bands Awesome Metatrader 4 system is based on a combination of Bollinger Bands, the Awesome Oscillator and a simple moving average.
It’s an easy method that keeps you on the right side of the trend. It can be applied to all currency pairs.
Used Indicators: Bollinger Bands, 3 period Simple Moving Average, Awesome Oscillator
Time Frame (s): 30 Min chart and above
Currency Pairs: All
Trading Hours: All
Open long trade when the red line (simple moving average) trades above the middle Bollinger Band + Awesome indicator turns green above the 0 line.
Preferred stop for buy trade: Below most recent support.
Preferred target for buy trade: Stop x 2 or better (for example risk: 20 pips, target: 40 pips)
Open short trade when the red line (simple moving average) trades below the middle Bollinger Band + Awesome indicator turns red below the 0 line.
Preferred stop for sell trade: Above most recent resistance
Preferred target for sell trade: Stop x 2 or better (for example risk: 50 pips, target: 100 pips)
SELL TRADE ENTRY EXAMPLE: