Bollinger Bands Scalping - a great strategy for major currency pairs
Bollinger Bands are one of the more versatile indicators that can be used for strategies based on very long time frames as well as for shorter strategies, and of course there are scalping systems as well.
The great strength of today's strategy lies in the fact that the Bollinger Bands indicator has already been tested for a long time on the highest trading positions, and therefore there can be no doubt that this indicator really works.
Application of the strategy
Scalping based on Bollinger bands is nothing complicated, however, some rules must be followed, such as trading on the lowest timeframe M1 and avoiding fast period settings with small deviations in the case of the Bollinger indicator settings. Unfortunately, failure to follow these rules often results in the occurrence of a significant number of false signals and scalping strategies usually become very loss making as a result.
With Bollinger bands, it is possible to enter trades whenever the price hits one of the given bands (including the central curve), as soon as this happens, it is possible to immediately start entering trades in the opposite direction to the one in which the hit occurred (see purple spots on the charts above/below).
Scalping strategies are usually characterized by a very high success rate, but with relatively low profits. Of course, this is also true for today's case, where it is possible to achieve success rates approaching 90%, but to achieve a successful result, you need to have the right money-management, which requires a lot of attention.