The bands of Bollinger are united with the RSI of Wilder and BB Stop.
Wilder's RSI Band Breakout is a trading system based on three indicators of Bollinger Bands, BB Band stop and Wilder 'RSI. The purpose of this strategy is to enter the market when there is a trend, then there are two solutions:
1. follow the trend with BB Stop;
2. Fast predetermine benefit that depends on peer and time frame.
This strategy is a variant of the classic Bollinger Bands Breakout.
This strategy is suitable for scalping, day trading and swing trading.
Note_: Wilder's RSI works better in the divergences with the Renko chart (see example below).
Time frame of 5 minutes or more.
Currency pairs: Higher plus Indices, Gold and Oil.
For 5 min time negotiation sessions: London and New York.
Recommended broker: IQOPTION - XM - ETORO - 24OPTION - OLYMPIA TRADE
Metatrader indicators
Bands (20 point, deviation 2.0),
Money Dot
BB Stop (period 20, deviation 1.0),
Wilder RSI 12 period, close.
Trading Rules Wilder RSI Band Breakout
To buy
Wilder RSI is above level 70;
the price closes the upper band.
Earn profit at the point with money, with the goal of predetermined benefit or following the position with the BB band stop.
Place the initial stop loss below the lower band.
To sell
Wilder RSI is below level 30;
the price closes the lower band.
Get profits at the red money point, with the goal of predetermined benefit or following the position with the stop of Band BB.
Place the initial stop loss below the lower band.
Max two goes back into the same direction.
Wilder's RSI divergences in the Renko chart.
This method of negotiation is discretionary only for experts.
The configuration of the band stop BB is (20 point and deviation 2.0).
Case size 2 pips or more.
Rules
To buy
Find the bullish divergences in Wilder's RSI.
Enter when the BB band stop is in purchase.
To sell
Find the bearish divergences in Wilder's RSI.
Enter when the BB band stop is for sale.
In the images, Wilder's RSI Band Breakout in action.
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