Bollinger Band Breakout
Here is a technique I have been working on. The technique is based on the Bollinger Bandwidth Indicator. When this indicator crosses a set threshold I enter the trade. The rules are on the attached chart.
The bandwidth threshold will be different for every currency pair and time frame. You want to have it set high enough to stay above "the noise" but low enough that it will get you into good positions early.
Stop Loss can be the middle of the bollinger band or a set number.
As I stated on the chart I exit when CCI crosses 100. You will have to fine tune the CCI for your time frame and pair. I have been using 21 on the one hour charts.
I feel like this would make a great EA. It is a high probability system but it takes a lot of chart time. This works well on all time frames. Higher time frames are of course more consistent and average more pips. On a 1 hour chart these trades usually yield 30-50 pips. Over 100 is not uncommon.
I would appreciate any way to improve this method and possible EA development.Good approach 
Keep us updated please.
wow looks nice... my question: what are those indis on the bottom of the chart? where can i get those?
regards
We don't have any Bollinger (strictly) based system inside Elite. But several explanations about bands and so on.
And the way J Bollinger explains how to trade is extremely helpful and really to understand. We should continue on this thread.
tinear would you please post the indicators you used? that would be realy helpfull!
thank you in advance
Indicators
The Bollinger Bandwidth indicator is located in the first post. You can use the standard CCI but I love the one coded by Linuxuser. I have attached it below.
I have also attached a Bollinger Bandwidth indicator Mr Tools was nice enough to share in another thread. The indicator alerts you if the width is above and below the threshold. It would help to be alerted only when the indicator goes above the threshold. It also appears to alert on every bar once below the threshold.
I am still working on this system. For me it has been a great way to avoid a sideways market. When the Bollinger Bands open the market is moving.
i love this strategy.
I strongly agree with Linuxer.
I would like this thread going on.
I am manual trader and I especially love scalping.
I have been testing this method for two days.
It is working alright.
But I don't know, if it becomes EA, work as well as manual treading.
Because in manual treading, I can check how tick moves.
Rapid move of tick, and volume gives more accurate sigh.
and checking MTF.
I and using for 1min ,5min, 1hour bar.
Anyway the difficulty of using BB is to determine either the price goes Band Walk or not.
This give good determination. I think better than using ADX.
I would love to hear from anybody who tried this method.
thank you
thanks m8, will surely check it out =) but i agree... maybe better keep this thing manual... eas normaly f''' things up very badly compared to manual trading... but maybe it would be nice to have an ea on semi auto wich you have to allow every single trade so you dont have to monitor the market all day long.
anyone has enough experience to get something set up for this strategy?
thx for sharing the system tinear... it realy looks amazing... but i still have some questions for you:
1. which pair you use this on? i.e. which pair is this chart from?
2. could you kindly share your template? since i am not sure about the settings for bb, bwi ect.or please tell me what setting for BB (default is20)
3. Is the BWI and BWR alert the same indi but with alert? since they look almost totaly the same
thanks again =)
surfer
MTF approach
Here is what the MTF approach might look like. The red Bollinger Band width indicator is for a one hour time frame. The aqua Bollinger Band width indicator is for a four hour time frame.
I use the default settings for the Bollinger Band width indicator. Both versions I attached are the same except one has an alert. The alert is backwards though in my opinion and could be improved.
Here is a technique I have been working on. The technique is based on the Bollinger Bandwidth Indicator. When this indicator crosses a set threshold I enter the trade. The rules are on the attached chart.
The bandwidth threshold will be different for every currency pair and time frame. You want to have it set high enough to stay above "the noise" but low enough that it will get you into good positions early.
Stop Loss can be the middle of the bollinger band or a set number.
As I stated on the chart I exit when CCI crosses 100. You will have to fine tune the CCI for your time frame and pair. I have been using 21 on the one hour charts.
I feel like this would make a great EA. It is a high probability system but it takes a lot of chart time. This works well on all time frames. Higher time frames are of course more consistent and average more pips. On a 1 hour chart these trades usually yield 30-50 pips. Over 100 is not uncommon.
I would appreciate any way to improve this method and possible EA development.It would not be hard to make that strategy into an EA. Is it a conservative system?
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Here is a technique I have been working on. The technique is based on the Bollinger Bandwidth Indicator. When this indicator crosses a set threshold I enter the trade. The rules are on the attached chart.
The bandwidth threshold will be different for every currency pair and time frame. You want to have it set high enough to stay above "the noise" but low enough that it will get you into good positions early.
Stop Loss can be the middle of the bollinger band or a set number.
As I stated on the chart I exit when CCI crosses 100. You will have to fine tune the CCI for your time frame and pair. I have been using 21 on the one hour charts.
I feel like this would make a great EA. It is a high probability system but it takes a lot of chart time. This works well on all time frames. Higher time frames are of course more consistent and average more pips. On a 1 hour chart these trades usually yield 30-50 pips. Over 100 is not uncommon.
I would appreciate any way to improve this method and possible EA development.