Indicators: Bollinger Bands Set
Forum on trading, automated trading systems and testing trading strategies
newdigital, 2013.08.06 14:05
Bollinger Bands Forex Trading Strategy Summary
Bollinger Bands is a popular indicator that can be used in various ways. However, like most indicators it should not be used alone. This indicator work best combined with overbought and oversold indicators and oscillators.
Since Bollinger Bands uses volatility to determine the trend, traders should not use indicators that duplicate this information. Instead these bands should combined with indicators that measure volume or momentum. The table below summarizes trading strategies used with this indicator.
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Bollinger Bands Set:
Set of Bollinger bands created on the basis of the universal smoothing algorithm.
This indicator uses considerably more Bollinger bands than the standard Bollinger Bands indicator. The matter is that the set of bands having the "Deviation" parameter from the range of 1, 2, 3, 4, 5 and other values denotes support and resistance levels fairly well. The indicator is built in four variants with different amount of levels for different application cases.
Author: Nikolay Kositsin