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Bollinger Bands Tenkan-Sen Reversal Trading with RSX ELR Filter


High Profits Bollinger Bands Reversal Trading – Bollinger Bands Tenkan-Sen reversal trading system and strategy with RSX ELR Filter indicator. You can use this trading system for trading with binary options Expiry time 6 candles.

  • Time Frame: M15 or higher
  • Financial Markets: Forex and Indices

 

MetaTrader Trading Indicators
  • Bollinger Bands (20, 2);
  • Tenkan-Sen line
  • ELR color modified version
  • RSX(14 periods)

 

BUY Rules

Trading NOTES

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  • The price broken and close the below lower band of the Bollinger Bands. Wait that RSX has blue bar and ELR color retraces into the bands and has blue bar
  • Price closes above the Tenkan-Sen line
  • If these conditions are agree, open BUY at the opening of the next bar

 

SELL Rules

  • The price broken and close the above upper band of the Bollinger Bands. Wait that RSX has red bar and ELR color retraces into the bands and has red bar
  • Price closes below the Tenkan-Sen line
  • If these conditions are agree, open SELL at the opening of the next bar

 

Trading NOTES
  • For exit positions you have these options:
    • place initial stop loss on the previous swing
    • make profit at the middle band
    • Profit Target predetermined with Risk Reward Ratio 1:2 or 1:3
  • Money Management with binary options is martingale ratio 2.5:1
    • examples: $5,  $12.5, $30.75, ….

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