Simple high accuracy “Bollinger Bands Scalping System with RSI and Stochastic Oscillator Filter” – Scalping Bollinger Bands Strategy is best for quick profits.
First in order to use Scalping Bollinger Bands Strategy you need to set-up your charts to include the Bollinger Bands (20, 0, 2), Stochastic Oscillator (14, 3, 3) and RSI (8). Or you can download the template below which looks like same as the screenshot.
- Time Frame: M5
- Currency Pairs: GBPUSD and EURUSD
- Bollinger Bands
- Stochastic Oscillator
- Relative Strength Index
- Bollinger Bands: price goes down and touches the lower Bollinger Bands
- Stochastic Oscillator: Upward from the oversold area
- Relative Strength Index: UPward and above level 55
- Bollinger Bands: price goes up and touches the upper Bollinger Bands
- Stochastic Oscillator: Downwards from the overbought area
- Relative Strength Index: Downward and below level 45
- The relative strength index (RSI) and stochastic oscillator are both price momentum oscillators that are widely used in technical analysis.
- The combination of Bollinger Bands and Stochastic Oscillator makes easy to identify overbought and oversold levels.