https://traderslanding.net
In this video I review a system featured on the Trade Prime channel (link below). He presents 2 different strategies that feature Bollinger Bands. I focus on the 2nd one as I believe it is the stronger version. I was surprised by the effectiveness of this strategy and believe there is potential to make it more versatile to comport with varying market conditions.
In addition to reviewing the indicators, providing exact entry rules, defining the take profit and stop loss levels, testing it for 100 consecutive setups, reviewing the results, discussing the equity curve, and scoring the system on a scale of 1 to 10, I also share my 6 optimization tips that you can try in your own trading system development. Do not neglect back and forward testing, that is critical.
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⏱️ Timestamps ⏱️
00:00 – Start
00:39 – Indicators
01:35 – Examples
04:22 – Results, Equity Curve, Score
05:36 – Optimization
⚙️ System Specifics ⚙️
📛 System Name: The Bollinger Bam
🏆 Trader’s Landing Score: 7
🎹 Instrument: Euro vs. US Dollar (EUR/USD)
⌛ Time Frame: 15-Minute (M15)
👀 TradingView Indicators
Name: Bollinger Bands
Inputs: Default
Style: Default
By: TradingView Built-In
Link: https://www.tradingview.com/support/solutions/43000501840-bollinger-bands-bb/
Name: Relative Strength Index (RSI)
Inputs: Default
Style: Yellow
By: TradingView Built-In
Link: https://www.tradingview.com/support/solutions/43000502338-relative-strength-index-rsi/
☝️ Long Entry
- RSI Bullish Divergence
- Close above Bollinger Band Basis Line
- Do not enter if the candle that closes above Basis line also closes above top Bollinger Band Line.
👇 Short Entry
- RSI Bearish Divergence
- Close below Bollinger Band Basis line.
- Do not enter if the candle that closes below Basis line also closes below the bottom Bollinger Band Line.
🔥 Risk to Reward: 1:2
🛑 Where to place stop-loss:
For Longs: Below bottom Bollinger Band.
For Shorts: Above top Bollinger Band.
🚀 Where to take profits: 1:2
Source
Trade Prime Video
https://youtu.be/wfPf-KBuQH0
⚠️Disclaimer: This content references opinion and is for information purposes only. Not intended to be investment advice.
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