Indicators: Bollinger bands breakout
Mladen,
Could I suggest another additional filter to it the objective is to get more filtered signals avoiding bad entrances.
1) (filter 1) It's called Opened Crocodile Bands (or Opening Bands)
first the bands contracts and after it the bands open forming an open crocodile mouth and there is a minimum distance to consider this aperture
1.Opened Bands (true/false)
2. Use minimum distance (pts) (0=don't use)
2) (filter 2) distance from BBands
you only measure the distânce bettween bands up and bands down
2. Use minimum distance (pts) (0=don't use)
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Bollinger bands breakout:
Bollinger bands breakout
Author: Mladen Rakic