If you love bollinger bands indicator for scalping then you may like this scalping system: 5 Minute Forex Scalping System With Bollinger Bands Indicator.

If you happen to be in a range bound market, this scalping strategy would work well.

 

Things You Need

Indicators: bollinger bands with default settings

Timeframes: 5 minute chart

Trading Sessions: UK and US

Currency Pairs: EURUSD and GBPUSD

Here’s an example:

Buying Rules

1. Bollinger bands must be in flat or almost flat. This would happen when the market is in a trading range.
2. watch to see if price goes down and touches the lower bollinger band.
3. if it does so, open a buy position.
4. set stop loss 10 pips below the entry price.
5. take your profit when price reaches the upper bollinger band.

 

Selling Rules

1. Bollinger bands must be in flat or almost flat. This would happen when the market is in a trading range.
2. watch to see if price goes up and touches the upper bollinger band.
3. if it does so, open a sell position.
4. set stop loss 10 pips above the entry price.
5. take your profit when price reaches the lower bollinger band.

Simple strategy that produces pretty decent trading results.

As you can see, its a very easy to understand forex scalping system. Don’t forget to share this 5 Minute Forex Scalping System With Bollinger Bands Indicator if you’ve enjoyed it.