Buy when the yellow star appears within, below, or very close to the lower bands/channel (with blue colored dash lines).
Set TPs(take profits).
Set SL(stop loss) 2-3pips below the previous swing low.
Buy Exit Rules
Close some trades when price/candle stick enters the upper band/channel (with red colored dash lines), then set BE(break even) for the rest.
Close all buy trades when a yellow star appears within, above, or very close to the upper bands/channel (with red dash lines)
Sell Entry Rules
Sell when the yellow star appears within, above, or very close to the upper bands/channel (with red colored dash lines).
Set TPs(take profits).
Set SL(stop loss) 2-3pips below the previous swing high.
Sell Exit Rules
Close some trades when price/candle stick enters the lower bands/channel (with blue colored dash lines), then set BE(break even) for the rest.
Close all sell trades when a yellow star appears within, below, or very close to the lower bands/channel (with blue colored dash lines).
In addition, you could also use a trailing stop EA. Many find this to be an excellent addition to their trading, because it locks in some profit that could have been lost. For instance, you have 3 open buy trades, TP1 and TP2 hits, but TP3 doesn't, instead price is returning to hit you out on break even. Trailing stop ensures that as price is going back down, some profit is locked in along the way, so that that particular trade doesn't return to $0.0.
