Super Bollinger GRC Forex Trading Strategy

The Super Bollinger GRC forex trading strategy follows the primary trend on any currency pair with the help of the 45 exponential moving average technical indicator.

The strategy comes loaded with two more amazing technical indicators i.e. the superbollinger band mt4, and GG-RSI-CCI MT4 indicators.

Individually, these indicators are used in gauging price volatility and trend strength respectively.

Chart Setup

MetaTrader4 Indicators: superbollinger band mt4.ex4 (Colors Modified; #1=2), 45 EMA.ex4, GG-RSI-CCI.ex4 (Default Setting)

Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute, 30-Minute, 1-Hour, 4-Hour, 1-Day

Recommended Trading Sessions: Any

Currency Pairs: Any pair

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Buy Trade Example

Fig. 1.0

Strategy

Long Entry Rules

Initiate a buy entry if the following indicator or chart pattern gets put on display:

  1. If the lime line of the 45 EMA indicator intersects the middle maroon line of the superbollinger band mt4 in a bottom up manner as shown on Fig. 1.0, it is an indication of upward price pressures, hence a trigger to go long on the designated forex pair.
  2. If the yellow green vertical bars of the GG-RSI-CCI custom indicator gets puts on display within the indicator window (see Fig. 1.0), bulls are said to be pushing price higher, and as such a buy alert will do.

Stop Loss for Buy Entry: Place stop loss 3 pips below trading support.

Exit Strategy/Take Profit for Buy Entry

Exit or take profit if the following rules or conditions takes precedence:

  1. If while a buy signal is running, price closes below the lime line of the 45 EMA indicator, a bearish reversal is said to be in the making, hence an exit or take profit is advised.
  2. If the GG-RSI-CCI custom MT4 indicator displays an orange red vertical bar within its indicator window during a bullish signal (refer to Fig. 1.0), an exit or take profit is recommended.

Sell Entry Rules

Enter a sell order if the following holds true:

  1. If the lime line of the 45 EMA indicator intersects the middle maroon line of the superbollinger band mt4 in a top downward fashion as seen on Fig. 1.1, it is an indication of downward price pressures, hence a trigger to go short on the selected currency pair.
  2. If the orange red vertical bars of the GG-RSI-CCI custom indicator gets puts on display within the indicator window (see Fig. 1.1), bears are said to be taking price lower, and as such a sell alert will suffice.

Stop Loss for Sell Entry: Place stop loss 3 pips above trading resistance.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit if the following takes to the fore:

  1. If while a sell alert is ongoing, price closes above the lime line of the 45 EMA indicator, a bullish reversal is said to be in the cards, hence an exit or take profit is advised.
  2. If the GG-RSI-CCI custom MT4 indicator displays a yellow green vertical bar within its indicator window during a bearish signal as illustrated on Fig. 1.1, an exit or take profit is recommended.

Sell Trade Example

Fig. 1.1

Free Download

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About The Trading Indicators

A 45 SMA or 45 simple moving average is the forty five period sum of closing prices divided by forty five.

The SuperBollinger Band mt4 custom indicator is a modified Bollinger Bands that is made up of three bands with the outer bands being plotted as standard deviations away from the middle simple moving average band.

The GG-RSI-CCI custom indicator defines a combination of other dominant technical indicators i.e. CCI, RSI etc.

Its design allows for it to determine the major currency trend.

The yellow green bars represents an uptrend, orange red bars signifies downtrend, while ranging market is denoted by gold colored bars.

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