Bollinger Bands Breakout Strategy has an Arrows and Scanner Dashboard indicator set. It is for MT4 (Metatrader 4) platform.
When price breaks out of a Bollinger Outer Band in a powerful way, it becomes a great position for scalping.
Because the next few bars will most likely keep going in the same direction.
Especially if Middle band is also sloping towards that breakout.
It's also great for Binary options when using 2-3 next few bars.
Strategy:
BUY Bollinger Bands:
- Price breaks out of Bollinger Bands Upwards (Main Signal)- Breakout Boll Band is sloped upwards above Slope Threshold value (customizable)- Opposite Boll Band is sloped downwards below Slope Threshold value (customizable)- Middle Band is sloped upwards (customizable)
All other checks are optional
- Breakout Candle has a Strong Volume- CCI/RSI goes overbought- Waddah is Green and explosive- HTF and Current TF Trend Check using SSL
Same but vice-versa for SELL
Features:
- Bollinger Bands Breakout- CCI/RSI- Waddah Explosion- SSL Trend Check- Max Spread Check- Fixed Stop Loss and Take Profit Option- Calculation of Profit Loss Points and Win/Loss Count and Profit Percentage- Debug Texts on bars to show why signal skipped
Read detailed description on how everything works in blog post:
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