Recommended timeframes M15
The strategy described below is quite a simple strategy based on indicators. Three simple indicators installed in all standard MT4 terminals underlie this strategy. It is applicable to all major currency pairs, such as EUR/USD, GBP/USD, AUD/USD, CAD/USD, NZD/USD, and USD/JPY. The time-frame used: M15.
- Bollinger bands (Period 20, Shift 0, Deviation 2)
- Smoothed moving average (Period 2, Shift 0)
- MACD indicator (Fast EMA 11, Slow EMA 27, MACD SMA 4)
Conditions for opening Buy trades:
- The moving average (displayed in orange in the pictures) crosses from below the middle line of Bollinger Bands (displayed in green).
- The MACD histogram is below the line.
Conditions for opening Sell trades:
- The moving average (displayed in orange in the pictures) crosses from above the middle line of Bollinger Bands (displayed in green).
- The MACD histogram is above the line.
Conditions for closing trades:
- Stop Loss at the distance of 12-16 points (depends on the type of pair)
- Take Profit near pivot points, normally at the distance of 10-15 points from the opening level.