I am a 1st prize winner in Strategy contest for the month of May. And today I will describe my strategy's logic in detail.
The time frame of strategy is 5 minutes. The instrument is EUR/USD. Logic is, the strategy will identify overbought and oversold conditions on 5 minutes candlestick charts and then will check for trend reversal and accordingly it will open a particular trade.
Details of Logic are as follows.
I have used two Bollinger Bands indicator. One with time period 20 an…