Price reversals
- Experts
- Version: 2.1
- Activations: 10
This strategy trades the GBP/USD forex pair on the H1 timeframe, utilizing two sets of Bollinger Bands (BB) with different periods and deviations. It generates long and short entry signals based on price rejection from the bands, identifying potential reversal points where price reacts to volatility boundaries.
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Long Entry Signal: The strategy generates a buy signal when the opening price is below the lower Bollinger Band for two different periods ( BBBarOpensPeriod1 and BBBarOpensPeriod2 ) after previously opening above it. This suggests that the price may be experiencing an oversold condition and is likely to revert upward.
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Short Entry Signal: Conversely, a sell signal is triggered when the opening price is above the upper Bollinger Band for the same two periods after previously opening below it. This indicates that the price may be overbought and could decline.
By using multiple Bollinger Band periods, the strategy attempts to enhance signal reliability, ensuring that a price breakout or reversal is confirmed across different volatility settings.
Stoploss and profit target activates automatically.
| Technical Specifications(Setting) : |
| Instrument: Forex GBPUSD H1 |
| Timeframes: H1 |
| Minimum Deposit (micro lot): 200 USD for 0.01 lot |
| Recommended Account Type: Raw Spread |
| Leverage: 1:30 or higher |
| Trading Options: |
| Don't trade on weekends = false |
| Exit at end of day = false |
| Exit on Friday = false |
| Limit signals time range =false |
| Max distance from market pct = 6 |
| Max trade per day = 0 ( unlimited ) |
