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my 15 min Bollinger bands system

J

jamesagnew717

Hi,

I have come up with a good system for trading all the major Forex pairs, Its based on plotting the Bollinger bands of the higher time frame on the 15 min chart, I use the standard bollinger bands setting on my 15 min chart period 20 with an 80 simple moving average to represent the 1 hour middle band, and also have the 32o bands to represent the 4 hour bands on my chart, the entry signal is given when price breaks out of the 80 sma and spikes the 20 bolinger bands at the top for a sell, but there must be a close back below the 80 sma before entering, same for a buy, the price must close above the 80 sma after spiking the lower 20 bands, the stop goes below the lower shadow of the spiked bands and profit target 1 is the same as your stop loss, profit target 2 is the 4 hour bands bottom middle or top depending on where the entry is, you will notice just how well the 4 hour bands on the 15 min chart cause price to bounce.

hope all is clear, and I wish you all the best in your trading.

:)

any comments , feel free.

picture below of how I do this, it may look confusing at first but it works well.

I have changed the entry rules for this system.

see post 100 please







 

Attachments

  • new entry method for the 15 min chart.jpg
    new entry method for the 15 min chart.jpg
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J

jamesagnew717

template and indicators

template and indicators

here are my indicators i use
 

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  • MagicBars.ex4
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  • Stochastic_Color_v1.02classicC.mq4
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  • RoundNumbers.ex4
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J

jamesagnew717

cant attach the template , it wont allow me , how can I do this ?

here is the other indicators
 

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  • FFCalNew.mq4
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  • Golden Finger.ex4
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saivenkat

Member
Jamesagnew.. i really really appreciate your intention to share the strategy that you adopt for the benefit of the forum members.. Great work..:)

But then, i would request you to make some two or three screens separately for entry, exit and another one a combination of both.. so that dullards like me will try to make a grasp of what you have shared.. :eek:

Me t:confused::confused: fall in line with Gctex bro, as could n:eek:t understand anything from the screenshot or what is written..

Regards
Saivenkat:)
 

saambasp

Member
this is breakou system.he is using bollinger bond 15 miutes and 4 hours[15 m values *16] for support,resistance and exits.he is using oscillators for entry.this is good and treditional system.
AIM=entry earlier ,exit at signific points[sup,res]
 
J

jamesagnew717

I have attached a zip file with all indicators and template

post 85 has new templates and all your indicators

 
J

jamesagnew717

I like to use a 40 pip stop loss and place 2 orders in the market at 1% = being a 2% initial risk trade, you can use a 40 pips trailing stop from the entry as the first target is 40 pips and second target is 80 pips, so when the first target gets hit your at break even automatically, and are still trailing up to take profit 2.

I use an ea called Swiss army ea, it trails the stop loss immediately from the entry price as price moves in your favour, so say you place a 40 pip stop loss and 40 pip trailing stop, it will move the stop as price moves, so if price moves up by 10 pips the stop gets moved to 30 pips.

you can contact me about this

alternatively you can move to break even plus spread after tp1

I use a 20 pips stop and 1st target of 20 pips and second take profit of 40 pips for these pairs only

usd/jpy and eur/gbp

if you use a trailing stop from the entry the this is a good way to reduce risk because if the trade moves 20 pips up then comes back down past your entry point then goes 20 pips below you are taken out for - 20 pips or a loss of 1% of your account and not 2%, as the initial 40 pips take profit is 1% gain then once at break even there is no risk and you are up 1% , if the trade goes up to take profit 2 you are then up 80 pis or 2% for the second trade being a 3% gain in your account, can you see how well the risk is eliminated and the odds are put in your favour

initially its a 3% gain for a 2% loss but once the trade moves up and your stop gets pulled up then it goes down to a 1% risk for a potenial 3% gain, goes from 3:2 to 3:1 after 20 pips move up

I really hope you understand what I am saying, trading involes risk , you need to eliminate the risk ASAP, this can be done trading this system, and you will be in the game in the long run.

its better than a stupid robot anyway :)

have a look at the example of the EUR/CHF PAIR

More examples to come, always trade in the direction on the trend

:)
 

Attachments

  • eurchf example 15 min bollinger.jpg
    eurchf example 15 min bollinger.jpg
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J

jamesagnew717

Hi,

I have attached an example of a trade that is becoming more apparent to me,
If the price holds the middle 4 hour band, you can consider entering the market when a blue dot appears.

I have attached some examples of this.

will attach some examples of trade that i would not take due to sideways action, always look to enter the market with momentum, so don't be upset if the market moves down or up quick, and you don't get in, that's what we need to happen as can look for entry on pull-back, will upload some examples soon
 

Attachments

  • 4 hour middle bands bounce.jpg
    4 hour middle bands bounce.jpg
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J

jamesagnew717

Hi,

I have changed my template, I am looking at up bars and down bars at key support and resistance points, i am in a live trade have a look, will update the progress of this trade.

attached my new template, change the up bar down bar thickness to 2.
 

Attachments

  • eurusd live trade.jpg
    eurusd live trade.jpg
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J

jamesagnew717

lots wizard

lots wizard

Hi,

I have attached a lots wizard that automatically tells you how may lots to trade per trade, I have set mine to 1% risk as opening 2 positions = 2% risk,
it calculates the lot size based on your account size, also calculates correctly for the the currency pair you are trading.

:)
 

Attachments

  • LotsWizardv12b.ex4
    7.1 KB · Views: 4

daycom

New member
Thanks for share freinds but my screen not same to you. Some indicator and bands does not appear. Can you edit all system and zip?

Thanks for effort.

 
J

jamesagnew717

when not to trade

when not to trade

Hi,

here is an example of when not to be trading , and when to be on the lookout for trades, when there is a 4 hour Bollinger squeeze, this will indicate a big move is about to happen, if i get 2 losers in a row, i simply take a step back and look at the bigger picture , you must not over trade, this is the secret, put the odds in your favour.
 

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  • choppy markets.jpg
    choppy markets.jpg
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J

jamesagnew717

add colour stochastic

add colour stochastic

hi,

you need to place the colour Stochastic in your indicator folder here it is again

hope this helps

:D
 

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  • Stochastic_Color_v1.02classicC.mq4
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J

jamesagnew717

update trade of eur/usd

update trade of eur/usd

Hi

first take profit hit for 1% gain :) now my trailing stop has locked in 20 pips on my second trade :)

this works well

:D

see attached photo
 

Attachments

  • 1st take profit hit.jpg
    1st take profit hit.jpg
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J

jamesagnew717

Hi

out of my trade with 3 % gain

:)

happy days
 

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  • out with 3% gain.jpg
    out with 3% gain.jpg
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J

jamesagnew717

hi,

just to note, if your trading the usd/jpy pair, the profit target should be 20 pips and initial stop 20 looking for 40 pips in second target.
 
J

jamesagnew717

missed trade

missed trade

missed this trade , was too busy trying to show you how all this works :)
but I think you get the idea now anyway, any questions ?
I can help you out with anything you don't understand, and also, I am looking for an expert adviser that trails price from the entry, so that if the price moves up by 5 pips the stop is trailed by five pips, as price moves up the stop moves up at a set distance of 40 pips away, if anyone has such an ea I would really appreciate it if you could share, thanks
 

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  • missed trade.jpg
    missed trade.jpg
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J

jamesagnew717

usdjpy trade

usdjpy trade

I am now at break even on the usd/jpy trade, wait and see what happens
:p

have a look
 

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  • usdjpy break even.jpg
    usdjpy break even.jpg
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J

jamesagnew717

bands top and bottom coloured

bands top and bottom coloured

thats just the standard bollinger period 20 setting, just realised its a custom indicator, sorry, have attached hope this helps, just place both files in your indicators folder

:)
 

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  • Bollinger Bands.ex4
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  • Bollinger Bands.mq4
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