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Hi guys I just wanted to share a strategy here so that I can get a feedback from everyone who tests it in their spare time.
I tested it using trading simulator bluefx.
I am posting results for 8 days of testing.
It takes time so maybe someone can make an EA for it.
Below I have the template and results.
Here is how to trade it :
For long trades; 50 ema has to be below price and mid bb.
Keep taking long trades every time there is a bearish candle that closes, no matter where the price level is just take a long trade using same lot size.
Lot size depends on your account. for example if you want to be really safe. use .01 lot per $10,000.00 account.
Using .01 lot for a $1000 account is fine though as long as your broker gives you at least 200:1 leverage.
There are 2ways to get out of a trade ;
1: you close all the trades once a bullish candle pierces the upper bb and closes outside. At this point when there is a bearish candle that closes back inside the top bb you can start trading longs the same way again( an alternative could be to keep taking trades the same way even though the price broke above top bb.)
2: the price crosses and closes below the low bb + 50 ema.
The reverse is true for sells.
Now my results are based on taking trades until the low bb or top bb +50 ema was crossed and closed by price.