Bollinger Bands EA
This site uses Akismet to reduce spam. For the 30th anniversary of Bollinger Bands, John Bollinger held a special two-day seminar teaching how to use his Bollinger Bands and which indicators to use for confirmation. Are prices high or low on a relative basis? Martingale function in Pro version Apr 11, Added: It is recommended to use period Simple Moving Average as the middle line, and plot top and bottom lines two standard deviations away from it.
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The bands give no indication when the change may take place or which direction price could move. Technical analysis incorporates this technical indicator and many others to create actionable trading plans and strategies. If you want to learn how to do this yourself for your own trading future, check out Investopedia Academy's Technical Analysis Course.
Any breakout above or below the bands is a major event. The breakout is not a trading signal. The mistake most people make is believing that that price hitting or exceeding one of the bands is a signal to buy or sell.
Breakouts provide no clue as to the direction and extent of future price movement. They are simply one indicator designed to provide traders with information regarding price volatility. John Bollinger suggests using them with two or three other non-correlated indicators that provide more direct market signals.
He believes it is crucial to use indicators based on different types of data. This strategy has become one of the most useful tools for spotlighting extreme short-term price moves. Indicator designed to profit from trends, pullbacks, inside bar breakouts and possible corrections. The first indicator designed to detect baseline swings in the direction of the trend and possible reversal swings.
An automated implementation of the original Richard Dennis and Bill Eckhart trading system, known as the Turtle Trader. A simple reversal trend-following expert advisor that helps you to navigate the markets just like hedge funds do. An indicator implementation of the original Richard Dennis and Bill Eckhart trading system, known as the Turtle Trader.
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The theme for the seminar was Bollinger Bands: The Market Timing Report is a collection of charts John Bollinger uses to forecast stock market movements. It is updated weekly and is available to all BollingerBands. Commentary for the charts is provided with a Bollinger Bands Letter subscription.
Guidelines for the Market Timing Report can be read here.