Trading Strategy Boilinger Bands reversal MACD

[martijnrikkert]

Hello Guys, I am new to this forum and kind of new in trading. What do you guys think of this basic set up? Would like to hear your opinion.

Trading Strategy Boilinger Bands reversal MACD

General rules

• All currency pairs
• Don’t trade a half hour before and after news with this strategy

Basic set up
• Timeframes 1 hour chart and 5 min chart
• Indicators Boilinger Band (20, 2SD) and MACD (12, 26, 9)
• RSI above 70 or below 30 on 5 minute chart

General
The strategy is based on the boilinger band reversal. The reversal will be confirmed when the MACD line crosses the signal line this is the signal to enter the market. The goal is around 10 pips. Stoploss 5 pips above/below the entering price of the market.
In the hourly chart the price have to out the range of Boilinger bands. When this happens change to 5 minute chart. Wait until the MACD crosses the signal line in the 5 minutes when. Enter the market when there is a cross. Don’t enter market when the cross already has been taken place. The best is when the reversal will be combined with a new cross.

The price reaches the upper Bollinger Band. Change to 5 minute chart. MACD is crossing the signal in on the 5 minutes chart enter the market. And wait for 10 pips. Stoploss 5 pips above/below entering price.

BUY Rules
• Price is below lower Bollinger Band in 1 Hour chart
• RSI is 30 or lower in 5 minute chart
• MACD is crossing signal line (above)

SELL Rules
• Price is above upper Boilinger Band in 1 hour chart
• RSI is 70 or above in 5 minute chart
• MACD is crossing signal lines (under)