Simple 15M Bollinger Band System

Hey everyone. I REALLY appreciate all the cool systems and ideas.
Much appreciated! You are all wonderful.

I really like that recent slope system... which
could probably be used with this system as well...

Here's a new system i am developing. I hope you like it. Please
tell me what you think.

Chester B

Hi Chester

Can you add charts with your instructions for us

Thanks and good luck

Cool system Chester. I plan on trying it out in the new year.

Thanks!

Here's a recent activity from EUR/USD...
First, larger trend is basically up at least at the start of this chart, so we want to go long.

In point 1, we have trending activity down. If we WERE going to go short
though, because previous direction was down, we'd have to wait until price touches middle line.
At point 2, we see price exhaustion because the outer layer is getting touched
less and less, and then we have a bullish candle, mostly all body, not
a good trigger for this kind of trade... So this would technically be a loss trade of 10-15 pips or so (SL 5 pips lower than lower band)
but if you saw the exhaustion and candle you might not take it.

and we see price go up...
Now we are making a nice run up. Unfortunately here, there is no wick that
touches the middle band so we can't take the trade...
Now price goes up and settles and consolidates. THe bands narrow...
Price action changes to consolidating (choppy) style, so our first trade,
we go long at point 3 and get out at point 4.
Again at point 5. Hopefully we didnt set our stop too close for this one. 10 pips
should cover this tail. We get out at point 6 when price action touches the band.
Now price action is in the upper channel and we have to wait for it to touch
the middle ant point 7. And we get out again at point 8.

So thats 3 winning trades here.

* Just prior to point 3, the price touches the middle line, but i think price has already consolidated
because the bands are so narrow. Even so, if you took that trade instead of waiting for price
to fall to point 3, you'd make like 5 pips maybe

** also notice now 5 to 6 and 7 to 8 are almost right on pivot points.

The key to making this system work is to know where price is generally going
on the next larger time frame so you can trade with the trend.
9. Now price appears to be heading down after point 8 which forms a bear candle on 4H...
So it appears we want to be going short... We could grab this recent touch on the
middle line and set the stop 5 pips beyond the upper band. If we got in short now,
we stay in short until we hit our stop loss or the opposite band.

I think this can be used well together with the pivot point squeeze by GCTrader with bollinger bands to see when it's a good time to trade and where about in the market we are, usually after market breakouts especially the London opening session it seems that both A and B usually work really well, ps this works on EURJPY too I believe,
but great writeup Chester keep the examples coming

Everyone happy holidays!

here's a sweet trade today for 21 pips on GBP/JPY....

The trend was clearly up for a long time, the price was
going between upper band and middle band, then when
price suddenly touched the lower band, and reversed,
it was time to go long. After fast price action, trail-stopped
it and ended up with 21 pips.

Although the system says to wait for price to touch middle line,
it was already touching quite a bit for this pair, so we wait
for unusual low, in this case touching the bottom band. In less
volatile pairs, even a touch of the middle line would be rare,
so use discretion...

Hello ChesterB

What you think make an EA? How long you are using this TS? i´ll not charge nothing, just share,

so, we'll lets see the possibilities and run some BackTests.

Best Regards,

Marcelo Marques