BollingerBands

[columbus]

EOD=23.3.12 ................7-month NIFTY-SPOT chart

Basically there are 2 lines in chart , 20-SMA in (WHITE+MAROON) colours
and 7-ema in VIOLET colour.In bullish conditions 20SMA will in White
colour and bearish condition it will be in Maroon colour.Violet colour line
decides the momentum of market, mostly.

Modifications

1.Instead of 10-EMA ,7-EMA is plotted.Since 10EMA responds a bit slow
7-EMA is chosen.

2.There is another EMA.It serves no specific purpose,only darkens EMA-7.

 

[columbus]

EOD=26.3.12 ................7-month NIFTY-SPOT chart

Basically there are 2 lines in chart , 20-SMA in (WHITE+MAROON) colours
and 7-ema in VIOLET colour.In bullish conditions 20SMA will in White
colour and bearish condition it will be in Maroon colour.Violet colour line
decides the momentum of market, mostly.Another EMA (ema-8) serves the
purpose of darken EMA-7 ,but it plays no major role.

 

[columbus]

EOD=27.3.12 ................7-month NIFTY-SPOT chart

Basically there are 2 lines in chart , 20-SMA in (WHITE+MAROON) colours
and 7-ema in VIOLET colour.In bullish conditions 20SMA will in White
colour and bearish condition it will be in Maroon colour.Violet colour line
decides the momentum of market, mostly.Another EMA (ema-8) serves the
purpose of darken EMA-7 ,but it plays no major role.

 

[timepass]

A perfect doji candle today, with a longer tail. Is it saying "Can't keep me down" ?? But the whole thing is below crucial averages.

Is EMA-8 serving your purpose ? I think we should try EMA5 because our trading week is 5 days. I think 5/20 cross is mentioned in some literature on TJ.

 

[columbus]

A perfect doji candle today, with a longer tail. Is it saying "Can't keep me down" ?? But the whole thing is below crucial averages.

Is EMA-8 serving your purpose ? I think we should try EMA5 because our trading week is 5 days. I think 5/20 cross is mentioned in some literature on TJ.

I tried different EMAs ,but they are pretty close to boundaries.Finally sticked
to 7 & 8.

 

[columbus]

EOD=28.3.12 ................7-month NIFTY-SPOT chart

Basically there are 2 lines in chart , 20-SMA in (WHITE+MAROON) colours
and 7-ema in VIOLET colour.In bullish conditions 20SMA will in White
colour and bearish condition it will be in Maroon colour.Violet colour line
decides the momentum of market, mostly.Another EMA (ema-8) serves the
purpose of darken EMA-7 ,but it plays no major role.

 

[timepass]

Columbus, a request. Please use red color for down days. The dark green is hardly visible.

 

[timepass]

BB for 30th March. EMA7 has changed color to green and is below EMA20, but EMA 20 is still bearish. The candle has closed above both the EMAs.

Note : Using Nifty futures

 

[timepass]

Bollingerbands as on 2nd April, 2012. Both, EMA7 and SMA20 have turned bullish and the index closed above both these averages. The bands are narrowing (range : 5136-5447, width - 311)

 

[timepass]

Yesterday's candle closed well above both the averages EMA7 (5287) and SMA20 (5295). Since today looks like a gap down opening day, we can consider these as support levels. The bands have widened slightly (Range : 5453-5136, width : 317) so may we can expect increased volatility.