Bollinger bands, RSI, ADX Forex Scalping Strategy

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Bollinger bands, RSI, ADX

This strategy is for 1 minute timeframe and the pairs that must be traded are major pairs. Indicators that are used in this strategy is as follows:

  • Bollinger Bands set to: (20, 2)
  • RSI set to: period 7
  • ADX set to: period 14

Trading time of this strategy must be:

2am – 5am EST, 8am – 12am EST, 7:30pm – 10pm EST.

The setup: RSI raised above 70 line or below 30 line, ADX is less than 32.

For LONG entry:

  • Price must be below the lower Bollinger band.
  • RSI must be above 30.
  • ADX is less than 32.

For SHORT entry

  • Price must be above the upper Bollinger band.
  • RSI must be below 70.
  • ADX is less than 32.

Target profit for this strategy is 6 pips, you can exit when price touches the middle band or when it touches the opposite band. Set your stop loss to 7 pips.

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