I've seen a very similar system using just two bollinger bands:
- Period 20. Deviation 2
- Period 20. Deviation 3
It's very much exact with the same entry and exit rules. I've seen the success of this system but the 1 minute chart is not good to trade unless the market has constant big up and down movements. Higher time frames like the 5 and 15 minute charts are more reliable. I don't think I'm allowed to post any links but I read about the system in a Investopedia article, called 'Bollinger Band Turn Trade' or something like that
My father in-law is practicing this system so I will be keeping an eye on it and will keep an eye on this thread to monitor your success. I hope it works for you !!
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