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Bolinger band and RSI

 
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kellyeasmith

Bolinger band and RSI

Just wanted to share a strategy that's been working really well for me. I've been using the bolinger bands set to  20 periods and 2 standard deviations and the RSI I set to 14 periods. I trade mostly on the hourly chart but have been successful on the four hour and daily. Once the candle is touching the upper or lower bolinger band respectively, You watch for a trend of the RSI upward or downward to enter into a short or a long trade and once the RSI is between 30-50 and trending upward, you enter at the close of a bullish candle. when the RSI is between 50-70, you enter a short at the close of a bearish candle. Hope this helps some of you guys. Good luck!!

Kellye 

Wed, 09/23/2020 - 6:19am
 
FXGold54

Sounds good Kellye, can you post some screenshots?

Thanks,

Allen

 
Rookie

Yes and especially Plot Trades:))

 
ras5898

I will consider this approach, given that I use these two indicators, as well. However, I trade the minute and 15 minute charts, which are more dynamic than the hourly and daily charts. Sometimes, I feel that the Bolinger bands are somewhat self-adjusting and if you rely upon them, too much, you can burned by a breakout. But, thanks for the information.

 
Hiker-Ron

Thank you. I use the Bollinger band on a lot of my trades. I trade mainly on 15min candles. Getting in at begin of candle, additional indicator is RSI

 
broslansky

@kelly,

Are you keeping statistics on your approach? These are the Golden Glove to your career as a professional trader.

 
W.A.Lewis

Kellye, How do you find trading on the daily and 4 hour chart. I trade on the 15M chart and use the 1M to make my decision on whether or not to buy or sell. Has your strategy been producing an overall consistent positive result. I have been at Gold 1 for ahile concentrating on trying to produce an over positive expectancy but it is a challange for me because I can make 50 pips and then just have it all wiped away.
Regards
Winston