Recommended timeframes M5
We offer for your consideration one of the speculative strategies on the Forex market. This is a scalping strategy and it is recommended to be used on the calm market when the price chart is moving in a sideways channel. It is also worth noting that low spread and fast order execution are also necessary conditions for the strategy to work.
Instruments: major instruments with low spread such as EUR/USD, GBP/USD, AUD/USD, USD/CAD (instruments may vary depending on the spread offered by your broker).
Timeframe: M5.
Indicators used:
- Bollinger Bands (20, 2);
- ADX (14 period);
- RSI (7 period).
When to buy:
- The price is below or on the lower MA of Bollinger Bands;
- The RSI is below the 30 mark;
- The ADX is below the 30 mark;
- Open long positions when the price returns above the lower MA of Bollinger Bands.
When to sell:
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