Triband forex strategy

In market. Simplicity sometimes beats sophistication in the long run. This is one of those forex strategies. It is simple and fundamentally sound. Once it identifies trend and momentum, it looks for signals of relatively high/low price (compared to recent past). Then it enters the trade with stop loss and take profit. Take profit is firmly set. Stop loss will be adjusted as soon as strategy reaches profit. Thus protecting the balance of the account in all cases.

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Profit protection method is done by break even order. Profit triggering the order is adjusted from order to order according to market conditions – difference between the average price and average high/low price.

 

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Used tools and indicators

 

Commodity channel index (CCI, tested period 600). High calculation period is used together with central range. Central range (CR) will avoid entering the trade in the market with unclear momentum. To modify CR adjust buy above and sell below zone. We buy only above the upper CR, we sell only below CR.

 

Bollinger bands (tested with period 50, deviation 1). BB will identify high, low and average price for us. We enter short on high price and long on low price. To reset the signal, price must return back to the tunnel for at least one candle. This will prevent us from entering multiple times on one signal.

 

Break even is placed once the price travels the distance, that equals distance between BB high/low and BB central line.

 

Tested in 1H chart of EURUSD

 

 

Forex strategy rules

 

SELL:

 

 

CCI trending below 25 and -25 CR. We enter only short.

Price rises above upper BB line. Previous candle closed with its high below upper BB.

We enter the trade on candle close.

  • Break even calculation: Distance between upper BB – central BB. Once the profit reaches this distance, stop loss is placed to break even.

  • Take profit: 80

  • Stop loss: 50

 

BUY

 

CCI trending above 25 and -25 CR. We enter only long.

Price below above bottom BB line. Previous candle closed with its low above bottom BB.

We enter the trade on candle close.

  • Break even calculation: Distance between central BB - bottom BB. Once the profit reaches this distance, stop loss is placed to break even.

  • Take profit: 80

  • Stop loss: 50

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Disclaimer:  Expert advisor was tested for profitability on historical data. All screen shots provided are displaying real results of the test. However past data will never guarantee future success. Every expert advisor needs to be tested properly on demo account. LIVE use only on your own risk. Read full disclaimer. TheForexKings Team does not give any financial advice. TheForexKings does not take any responsibility for any user’s investments and investment decisions. All rights reserved. Strictly for personal use.

 

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