This strategy works best in spot trading, but it will work in futures without any problem. However, I won't recommend anyone to do it in futures trading, but still you want to do it then do at your own risk. The winning rate of this strategy is very high and if applied according to my instructions then you will definitely have winning trades. This strategy has given me very good results and if you follow the steps carefully then you will get something good from it.
First of all follow these steps for setting up of indicators:
Step 1: Go to trading view and select the candles of 3 minutes.
Step 2: Go to indicators tab and select RSI.
Step 3: After selecting RSI change its length to 150
Step 4: In indicators tab select Bollinger Bands.
Step 5: After selecting Bollinger Bands change its length to 31 and StdDev to 7.
Once you have applied those setting now it's time for the strategy. After applying the setting you'll see a chart like this:
In this strategy we will divide our capital to 4 parts. We will place first buy order when the 3 minute candle touches the lower Bollinger Band line and the RSI fall below 36. Once the buy order is filled we will hold it, and wait for further dips.
We will place our second buy order when the 3 minute candle touches the lower Bollinger Band line once again, but this time we will ignore RSI signal. If both of those orders get filled then its the time to hold those coins that you have bought.
We can hold those coins for longer or sell them for some profit, but of course holding will increase the profits in long term. However, sometimes it can go down because crypto market is very volatile.
In order to place our third buy order we will select the candles of 30 minutes instead of 3 minutes, and we will again wait for the candle to touch lower Bollinger Band line, and the RSI to fall below 38 this time.
The fourth buy order is just repeating of third buy order, it is executed when the candle touches the lower Bollinger Band line we will place the buy order. Like other orders we will hold it for some time, and then sell it with profit.
This strategy is unique and it has been working for me like a charm. It works best with Bitcoin, but you can try it on altcoins as well, it should definitely work on those without any doubt. I have applied it on some altcoins like ADA, and Litecoin, and the results were positive with those 2 coins as well.
Feel free to ask me any questions related to the strategy, I will answer all those questions that make sense and can be helpful to others. Kindly, don't ask me to show you my trades because that's something I will not share with anyone due to privacy. I'm not a Youtube influencer who shows the trades just to gain revenue from the AdSense ads. I'm sharing the strategy just to give something to this forum, and something that might help others.
I hope it will help new traders, and it might be helpful for professional traders as well. Thanks!
Here is an example to prove that this strategy works:
Let's say that by following the strategy we found a scenario where all the requirements fulfilled now in that case we can execute our first buy order at $29520. Once the order is filled, it's time to wait for the second order, we will place that order only if it meets our requirements which is to touch the lower Bollinger Band line. In this case the second order was not placed as the market became bullish after the first buy order rather then going further down.
Since the second order was not meeting the requirements we sold our coins at 30110. We earned more than 1.6% profit by following the strategy. Keep in mind that sometimes we should settle with lower profits if we are following the strategy just for scalping purposes. what if our all four buy orders were filled? The chances of profits might be higher in that scenario. Keep in mind the example was given for demonstration purpose only.
I'll definitely share some of my trades that I'll execute to show you guys about the working condition of the strategy. Like other strategies it might not work all the time as there is no single strategy that works 100%, but it will work most of the times and your trades will be winning ones. I will repeat once again this strategy only works for those who can control their emotions. I would never recommend to create bots to execute the strategy automatically as that might not be safe. Thank you for reading!