hello First : the strategy trading logic is simple it search for the
overbought and oversold areas and open trades to benefit from the
price corrections .
Second : the indicators used to determine the overbought and oversold
areas is two Bollinger Bands and Relative Strength Index (RSI) with
TIME PERIODS : 20-days and 7-days.
CURRENCY PAIR : GBP/USD
Time Frame : 5 MIN
Lot size : 10M
how it works : It trigger a sell order when the price closes outside
the upper line of the Bollinger Bands and the RSI above level 70 and
the current candle's close price above upper Band and RSI above the
upper line since it is believed that the currency is overbought . and
It trigger a buy order when price closes outside the lower line of the
Bollinger Bands and RSI below 30 level and the current candle's close
price below lower Band and RSI below lower line since it is believed
that the currency is oversold take profit is open a new trade in the
opposite direction and I chose the time frame low as 5 minute to
benefit a quick scalping trades from the gbp/usd high volatility
because of the Brexit news .