The Detector
Account Details
CopyFX Account Type : Trader
Account Trader Name : LifePrinciple
Account Number : 5261339
Read Only Password : 20TEN
Account Server Type : CopyFX MT4 Pro-Cent
Account Currency : USD
Account Leverage 1: 500
Strategy Parameters
RSI : set up Default
Bollinger Bands : set up Default
Time Frame :All Time frame
Strategy difficulty : Medium
Currency Pair : All Pairs
Risk/Reward 1:2
Strategy Description
I use price action, support and resistance levels to predict the trend on daily chart. After that,
I switch to 5M Chart, I insert my indicators RSI default and Bollinger Band default
Note : I can use any time frame but, I prefer to use the 5M chart because it reduces risk. Using the 5M chart you cannot risk more than 15pips
but from 30M, 1H, H4 and Daily you will risk from 30 to 50 pips. That is to say that, the higher the time frame the higher the number of points you are to risk. But i use the same trading pattern for all time frame.
BUY SIGNAL
BUY Signal.jpg
If a candle breaks out of the bollinger band to the downside and RSI simultaneously touches the 30 oversold line, it is a BUY signal. Next, I wait for a candle to close inside the bollinger band, once that happens I place a BUY trade.
Remember for 5M and 15M chart I risk 15pips maximum but for 30M, 1H, I risk 30pips and 50pips for 4H and 1D.
I Exit when a candle breaks out of the bollinger band on my favour, or on resistant point.
SELL SIGNAL
Sell SIGNAL5M.jpg
If a candle breaks out of the bollinger band to the upside and RSI simultaneously touches the 70 overbought line, it is a SELL signal. Next, I wait for a candle to close inside the bollinger band, once that happens I place a SELL trade.
Remember for 5M and 15M chart I risk 15pips maximum but for 30M, 1H, I risk 30pips and 50pips for 4H and 1D.
I Exit when a candle breaks out of the bollinger band on my favour, or on resistant point.
Trading made cool.
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