BollingerBands
- Thread starter columbus
- Start date
Bollinger Bands of last few Months NIFTY FUT EOD=10/1/14
======================================
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. [INTRADAY]
======================================
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. [INTRADAY]
Hi Columbus
Thank u very much for a superb thread & beautiful charts!
I am not much into indicator trading..I am much in to price action trading..But when I see ur thread..just for knowledge sake & curosity ,I read this thread.& I should admit that I just spellbound by the magic of bollinger bands & I have read & observe charts from ur thread whole night..now I will be reading remaining thread...it changes my view on indicator...so again thank u very much for this informative thread..
What I have noticed that u have been trading by this method from a long time...if u have been trading it successful for such a long time,it must be a very profitable method...If u dont mind, could u please share what is the return on investment from this method in intraday trading...I am asking it because u have been trading it for more than 5 years ( as I assumed from date of starting of this thread) ...So If u have been trading it for 5 years..It shows that its really a profitable method..so if u could tell about trading results..or whats the rate of return on daily, weekly &monthly basis...
Wish u all the best ! May this ship of bollinger bands take the Sailor Columbus on the shore of lot of riches..
thanks again
Thank u very much for a superb thread & beautiful charts!
I am not much into indicator trading..I am much in to price action trading..But when I see ur thread..just for knowledge sake & curosity ,I read this thread.& I should admit that I just spellbound by the magic of bollinger bands & I have read & observe charts from ur thread whole night..now I will be reading remaining thread...it changes my view on indicator...so again thank u very much for this informative thread..
What I have noticed that u have been trading by this method from a long time...if u have been trading it successful for such a long time,it must be a very profitable method...If u dont mind, could u please share what is the return on investment from this method in intraday trading...I am asking it because u have been trading it for more than 5 years ( as I assumed from date of starting of this thread) ...So If u have been trading it for 5 years..It shows that its really a profitable method..so if u could tell about trading results..or whats the rate of return on daily, weekly &monthly basis...
Wish u all the best ! May this ship of bollinger bands take the Sailor Columbus on the shore of lot of riches..
thanks again
Hi niftytaurus,
Sorry for late reply.
Thanks.
There is nothing wrong by adopting either one or two indicators.
You can as well try RSI.By adopting more indicators ,it will lead to CONFUSION
better avoid it.
The problems I faced in Bollinger Bands ,I incorporated in another thread
BOLLINGERWORM.
I mentioned many times that Trading with LIVE chart and looking at EOD chart
are different.On EOD chart ,trading looks like a child game but more tougher
than that.On EOD chart at any point we know PAST,PRESENT and FUTURE,
on LIVE chart we know PAST and PRESENT only.
Posting charts in Traderji served TWIN purposes.
1.Pointing out the mistakes ,with possible correction.
2.To serve as a database ,so that you can go to any chart of any day easily.
(Now I stopped posting charts on daily basis ,as I do not find time to do that
and concentrated on OPTIONS fully)
Coming to my experience , it was rather mixed ,I do not see any reason why you
can not make 400~600 Nifty Points per month, strictly following the method.
Moreover I shifted from Trading Futures to Trading Options.
Sorry for late reply.
Thanks.
There is nothing wrong by adopting either one or two indicators.
You can as well try RSI.By adopting more indicators ,it will lead to CONFUSION
better avoid it.
The problems I faced in Bollinger Bands ,I incorporated in another thread
BOLLINGERWORM.
I mentioned many times that Trading with LIVE chart and looking at EOD chart
are different.On EOD chart ,trading looks like a child game but more tougher
than that.On EOD chart at any point we know PAST,PRESENT and FUTURE,
on LIVE chart we know PAST and PRESENT only.
Posting charts in Traderji served TWIN purposes.
1.Pointing out the mistakes ,with possible correction.
2.To serve as a database ,so that you can go to any chart of any day easily.
(Now I stopped posting charts on daily basis ,as I do not find time to do that
and concentrated on OPTIONS fully)
Coming to my experience , it was rather mixed ,I do not see any reason why you
can not make 400~600 Nifty Points per month, strictly following the method.
Moreover I shifted from Trading Futures to Trading Options.
Last edited:
There are two differences between Keltner Channels and Bollinger Bands.
First, Keltner Channels are smoother than Bollinger Bands because the width of the Bollinger Bands
is based on the standard deviation, which is more volatile than the Average True Range (ATR). Many
consider this a plus because it creates a more constant width. This makes Keltner Channels well suited
for trend following and trend identification.
Second, Keltner Channels also use an exponential moving average, which is more sensitive than
the simple moving average used in Bollinger Bands.
Courtesy:STOCKCHARTS
Last edited:
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