Bollinger Bands of last few Months NIFTY SPOT
====================================
Bollinger bands can be represented by using modified "Ema strip in BB"
as detailed below.
In Tradetiger, single line can be represented in TWO colours
based on BULLISH phase and BEARISH phase.This method is made
use of,in this technique.
Both POSITIONAL and INTRADAY data can be plotted.
CONSTRUCTION:
----------------
In TRADETIGER ,8 indicators can be plotted ,as of now.
I) Plot Standard Bollinger Bad BB(20,2).
II) Plot Double Average ,EMA-2 and EMA-9 in WHITE colour.
III) Plot EMA-3 to EMA-8 in double colour.(Blue-bullish;Red-bearish)
A series of Blue and Red strips are seen.
1.Blue indicates a BUYING opportunity (Buy LOW-Sell HIGH)
and
2.Red strip indicates a SHORTING opportunity (Sell HIGH-Buy LOW).
Better prefer one of these conditions ,preferably the condition-1
But in Choppy conditions frequent alterations are seen ,better
to avoid these conditions.Some times it so happens that ,WITHIN
EMA-2 & EMA-9 band ,both Blue and Red colours are seen.Avoid trading
in those circumstances.
Of course ,many TWEAKS are possible.By choosing BLACK colour for both UP &
DOWN candles ,you can send them to background (NO CANDLES AT ALL).
Any time frame (3min~5min) can be used.
====================================
Bollinger bands can be represented by using modified "Ema strip in BB"
as detailed below.
In Tradetiger, single line can be represented in TWO colours
based on BULLISH phase and BEARISH phase.This method is made
use of,in this technique.
Both POSITIONAL and INTRADAY data can be plotted.
CONSTRUCTION:
----------------
In TRADETIGER ,8 indicators can be plotted ,as of now.
I) Plot Standard Bollinger Bad BB(20,2).
II) Plot Double Average ,EMA-2 and EMA-9 in WHITE colour.
III) Plot EMA-3 to EMA-8 in double colour.(Blue-bullish;Red-bearish)
A series of Blue and Red strips are seen.
1.Blue indicates a BUYING opportunity (Buy LOW-Sell HIGH)
and
2.Red strip indicates a SHORTING opportunity (Sell HIGH-Buy LOW).
Better prefer one of these conditions ,preferably the condition-1
But in Choppy conditions frequent alterations are seen ,better
to avoid these conditions.Some times it so happens that ,WITHIN
EMA-2 & EMA-9 band ,both Blue and Red colours are seen.Avoid trading
in those circumstances.
Of course ,many TWEAKS are possible.By choosing BLACK colour for both UP &
DOWN candles ,you can send them to background (NO CANDLES AT ALL).
Any time frame (3min~5min) can be used.
