My Bollinger trend following system mtf

New comment
 

Hi everyone,

I have a new idea for trading

this is very simple

here are the settings to try

240 bollinger bands deveation 1

13 ema open

I have been studying this now for the last month and i think its very good way to be looking for the trend in price action

please try it and give any feedback or criticize any aspects of this as you feel

buy signal as follows,

price above the top bands area and the price above the 13 ema open

if the price fails to stay above 13 ema open or the top bands then its telling you to do something, move the stop loss or exit.

sell signal is below the bottom bands area and under the 13 ema open

price action does not lie, if it is not doing what you want it to then i believe you have to react,

we dont control the market, can only react to what its telling you,

this is a day trading system, time frames to use are 1 hour , 15 min and 5 min only

this helps me be aware of the 1 hour trend bias area, and i try to take my trades in line with the 1 hour , hope you understand what i am sharing here,

all the best

 

Sounds like an interesting idea James.

Thank you very much for sharing.

Ish

 
jamesagnew717:
Hi everyone,

I have a new idea for trading

this is very simple

here are the settings to try

240 bollinger bands deveation 1

13 ema open

I have been studying this now for the last month and i think its very good way to be looking for the trend in price action

please try it and give any feedback or criticize any aspects of this as you feel

buy signal as follows,

price above the top bands area and the price above the 13 ema open

if the price fails to stay above 13 ema open or the top bands then its telling you to do something, move the stop loss or exit.

sell signal is below the bottom bands area and under the 13 ema open

price action does not lie, if it is not doing what you want it to then i believe you have to react,

we dont control the market, can only react to what its telling you,

this is a day trading system, time frames to use are 1 hour , 15 min and 5 min only

this helps me be aware of the 1 hour trend bias area, and i try to take my trades in line with the 1 hour , hope you understand what i am sharing here,

all the best

James Do you wait for candle close above or below the bollinger band?

Ish

 

Ya same here James

Nice James looks good man lets post some demo trades..seems like it a good place to watch the market

..Do they call you James Bond?

 
jamesagnew717:
ha ha

i dont trade bonds, only forex

lets test it out,

look at the 1 hour , then 15 min, then 5 min, also look for areas of support and resistance that may cause a few problems

Free image hosting for your screenshots + free screen capture tool

see this on the 1 hour chart , price inside the bands area now , no real trend in place , so we know its risky in here, then we see that there is resistance now

so we zoom into the 15 min , whats it saying

Free image hosting for your screenshots + free screen capture tool

still above the top bands on 15 min so its bias still long, but we have this resistance zone above still

lets check the 5 min now

Free image hosting for your screenshots + free screen capture tool

we see the squeeze showing us price is building the momentum for the breakout soon, up or down we dont know, so let it play out first and see, in other words no trade

Can you share the template pls?

 

eur/usd bias 12/12/12

Money Bags:
Nice James looks good man lets post some demo trades..seems like it a good place to watch the market ..Do they call you James Bond?

ha ha

i dont trade bonds, only forex

lets test it out,

look at the 1 hour , then 15 min, then 5 min, also look for areas of support and resistance that may cause a few problems

Free image hosting for your screenshots + free screen capture tool

see this on the 1 hour chart , price inside the bands area now , no real trend in place , so we know its risky in here, then we see that there is resistance now

so we zoom into the 15 min , whats it saying

Free image hosting for your screenshots + free screen capture tool

still above the top bands on 15 min so its bias still long, but we have this resistance zone above still

lets check the 15 min now

Free image hosting for your screenshots + free screen capture tool

5 min chart here

http://my.jetscreenshot.com/demo/20121212-lwuk-137kb

we see the squeeze showing us price is building the momentum for the breakout soon, up or down we dont know, so let it play out first and see, in other words no trade

 

template mt4 , 1 hour, 15 min, 5 min charts

anonimm:
Can you share the template pls?

sure, here it is, dont try and make it more fancy , just use it as it is,

enjoy

Files:
fxcm_station_bands.tpl  1 kb
 

winner

not bad,

locked in 10 pips currently up 33 lets see what happens,. will trail that stop as i go

Free image hosting for your screenshots + free screen capture tool

 

The image hosting is gone with the wind and it is obsolete now.

Hermes

 
hermes:
The image hosting is gone with the wind and it is obsolete now. Hermes

sorry about that, i will get some pics uploaded

 

James is one of my favorite guys to follow on other forums.

His ideas are profitable.

He is also one of the few I turn to when I need help with filtering, and he is an expert in moving average and indicator tweaking.

My advice would be to ask many questions and learn from him.

Ish

12
New comment