Range Sniper Trading System with EA

Hey Guys,

I have made my own system, and refined it over a few years and want to share it with you guys.

TimeFrame: H4 (can work with smaller time frames but is less accurate then)

Indicators:
Bollinger Bands (20;2;0 [default])
Stochastic Oscillator (5;3;3 [default]) - levels 20 + 80

The idea behind this system is to trade the swings of the market. Swings are inevitable. Even in trends it always swings back down for a bit and goes back up. This system takes advantage of it. It works best during Ranging markets, but still works well in trending markets as well.

Buy:
When price goes below the lower BB band, and closes ABOVE it
And Stoch must be oversold (below 20)

Sell:
When price goes above the upper band, and closes BELOW it
And Stoch must be overbought (above 80)


Exits:
when the price closes on the other side of the Middle BB Band. (so above the middle band for a BUY, and Below the Middle Band for a Sell)

this is a double swing movement confirmed and very powerful! with very little losses. there are some losses of course but the profits win a lot more than the losses.

I have made an EA for this and it has proven extremely helpful because on a number of occasions I have missed out on good trades because I was either asleep or busy at the time. it really helped when I was away on holiday as well because it made all the trades for me, so that I didn’t have to be by my computer.

I don’t want to post it up here as I don’t want thousands of these floating around. I want this to be given to serious traders who are looking to profit from forex. If you do want this EA, throw me an email me at <[email protected]>. It is completely free, I just want to give it to people who really want it.

Give this strategy a test! I know you wont be disappointed :slight_smile:

Happy Trading!
Dupls

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Hi,
This looks clean and straightforward and makes sense.
What pairs do you usually trade? And what do you typically use as a stop loss?
Thanks!

GBP/USD tends to be the best performing with this strategy.
EUR/USD, EUR/JPY, doesn’t do too badly.
GBP/JPY has some big wins but also has some big drawdowns

We don’t really use a stop loss as sometimes the trend carries on a bit and comes back. and sometimes that stops out the good trades.

And bacon does always make it better :slight_smile:

Interesting. With no Stop Loss, how do you decide your position size?

You can always play with Stop Losses of course, even with the EA. Just manually going back i can see that it would have stopped a lot of good trades. But I suppose it would have prevented more losses too so it’s hard to tell.

I usually use 0.02 Lots per $100 Balance. That is really conservative though seeing as the trades are not that frequent. So you could easily go higher. Just watch out for those drawdowns.

appear to be the 10 pips strategy from Urban forex.
10 Pips Per Day Scalping Strategy - Urban Forex

Except the strategy at Urban Forex is clearer and has some subtle but very important differences.
And, of course, the one at Urban Forex ISN’T just a sales pitch to get us to join their broker of choice.

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