Scalping with Money Flow Index and Bollinger Bands

  • Time Frame 5min


Forex Indicators:

  • Bollinger bands (20, 2)
  • Money Flow Index (8).


Long Entry:

  • when the Money Flow Index  is in overbought, the bid price close outside the lower Bollinger band indicator line, wait candle bullish.Short Entry:
  • when the MFI is in oversold, the bid price close outside the lower Bollinger band indicator line, wait the candle bearish candle

Exit Position:

  • Place Stop Loss on the upper or lower band.
  • Profit Target: AUD/USD 6 pips, EUR/USD 8 pips, GBP/USD 10 pips.

Share your opinion, can help everyone to understand the forex strategy.

Leave a Reply