INDICATORS: Bollinger Bands and Relative Strength Index (RSI).
INDICATOR TIME PERIODS: 20-days and 7-days.
TIME FRAME: 5 minutes.
CURRENCY PAIR: EURUSD.
STOP LOSS & TAKE PROFIT: none
LOT SIZE: 4m
I've very simple approach in my strategy.My Strategy is based on 2
technical indicators Bollinger Bands and Relative Strength Index
(RSI). Upper or lower Bollinger Band being breached to the downside or
upside (lower or higher BB).Parameters involve using a 18-periods. RSI
indicator moves being breached to the downside or upside (moves below
30 or above 70 level).Parameters involve using a 7-periods. I used 5
minutes time frame of the Pair EURUSD.It trigger a sell order when
price closes outside of the Bollinger Bands and RSI above 70 level ,
the current candle's close price > upper Band and rsi > upper
line,since it is believed that the currency is overbought. A buy order
when the current candle's close price < lower Band and rsi < lower
line (moves below 30 level), since it is believed that the currency is
oversold. I've no stop loss and no take profit.