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Spike scalper BB - FOREX strategy

by Spikehunter: This is one of my most valued system. It is also a system that I traded for a long time and grow to know very well. It is very demanding on traders' attention because is targets extremely volatile market conditions without predetermined take profit. Therefore, it requires practice and precision. Also, it is next to impossible to get it coded into an EA. But If you are looking for a fast pips, every day this might be the right system for you.

Basically, I Am looking for spikes occurring on high calculation period Bollinger Bands. By spike I mean extremely tall wick of a candle that has at some point touched the BB. By very nature of rapidly moving wick (15 min chart) profit target is usually reached within minutes upon entry. It is hard to predict the end to and movement therefore you need to acquire a habit to close as soon as possible. To put it simply: small trade closed immediately is infinitely more valuable than big trade closed later.

For the best results, trade with professional ECN/STP broker with MT4. If you can't trade with profit. Automatically copy the traders that are already profitable.

This system is suitable only for experienced traders with emotions under control.

Fundamentally the system is simple. Rules are simple. What makes it hard is impeccable execution.

Used Forex indicators

Bollinger bands 60


We will be looking for a 5 min candle with extremely tall upper wick. Wick must be at least 2-3* the size of candle body. It must also be wider than most of the candle in the left side of the chart.

Spike scalper BB - FOREX strategy

Candle with this wide wick must touch the upper BB line. It is not important whether the body or the wick touches the line.

Once the candle closes we enter the trade short immediately. Stop loss is placed above the high of a candle.

Now with the take profit it gets trickier for the most traders. You must be looking to exit ASAP with the profit of at least 5 pips. Sometimes you manage to get a full candle of profit, but again is much better to exit early with small profit.


Spike scalper BB - FOREX strategy

Apply same rules at the bottom BB, looking for a candle with extremely tall bottom wick.

Notes: As you can see this forex strategy is no walk in the park. But trust me, it can be very rewarding. If you have your day systems in check and you need to stay close to the charts, why not make couple of extra pips with some aggressive scalping.



“Trading FOREX since 2006. Full time trader and web developer since 2013. My two biggest hobbies are trading and web development. In TheForexKings I managed to connect both of them. Even after 12 years of trading I still have the same passion for the market as at the beginning. The aspect I enjoy the most : development and testing of new ideas.” 


Only in 2016 - 2017 we have created more than 400 forex strategies. During this period we have also developed and published +200 MT4 Expert advisors based on those strategies. We are dedicated to provide you with viable and complete trading systems that have thrived in extensive historical testing. We want to give you complete and transparent trading solutions, that once mastered ,will set you financially free. We want to give you a fighting and winning chance in the market. ” 

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