This indicator is an implementation of the Bollinger Band and EWO Oscillator Scalping system. This technique is for those who want the most simple method that is very effective. It is BEST traded during the busiest trading hours, 3am to 12am EST NY time. This method doesn't work in sideways markets, only in volatile trending markets. -Time Frames: 1, 5, 10, 15 ,30 min. -Currency pairs: majors, btc, futures and volatile stock. Other Chart indicators: Add EWO bb. Optionally Add Squeeze Indicato or bbsqueeze .
Here's the strategy:
// Going LONG: Enter a long position when Curve Slope has crossed up through the Bollinger upper band (lime) . At the same time, the EWO BB or BBqueeze should be approaching or crossing it's zeroline, going up. This is indicated by "Buy" alert.
// Going SHORT: Enter a short position when Curve Slope has crossed down through the low Bollinger red. At the same time, the EWO BB or BBqueeze should be approaching or crossing it's zero line, going down. This is indicated by the "Sell" Alert.
// Take profit: // 10-20 pips depending on pair or When Awesome Oscillator turns a different color. // HINTS: Best trades tend to occur when price reversing bounce off outer band and and outside Optional Bollinger Squeeze indication.