BollingerBands

[columbus]

BB(20,2) of nifty futures on time frame 4,6min are presented below.

Go long when Red+Green candles pierce the bottom band and wait for 15minutes
for confirmation after taking position, otherwise come out with stoploss

Go short when Green+Red candles pierce the top band and wait for 15minutes
for confirmation after taking position , otherwise come out with stoploss

Otherwise continue with TREND if candles graze(ride) TOP/BOTTOM
bands.

 

[columbus]

Nifty of last 5 months as on 1.4.10.

 

[Raghavacc]

Below is the ICICIBank daily chart.For me its a low risk ,potentially high reward opportunity.

All direct towards possible heavy correction.Erosion is more likely than sideways.We should get a clue by next week itself.

Double top,RSI Negative Divergence, Facing resistance at previous high,Upper BB piercing the upper tails of last green and red candle.

Regards
Raghav

 

[columbus]

Below is the ICICIBank daily chart.For me its a low risk ,potentially high reward opportunity.

All direct towards possible heavy correction.Erosion is more likely than sideways.We should get a clue by next week itself.

Double top,RSI Negative Divergence, Facing resistance at previous high,Upper BB piercing the upper tails of last green and red candle.



Regards
Raghav

Hi Raghav,

Yes ,in ICICIbank the correction has started as indicated,reaching OB
condition and dipping a bit.But after 3 red candles ,next we had 4 green
candles.Yes the picture will be ascertained quite clearly by middle of
next week.

Suggestions.1.Before saving chart ,keep the cursor on the last candle so
that you won't see a prior date.
2.I think volume can be merged with price in TRADETIGER.
3.See that chart won't spoil the format of page.(Small chart).
I hope you won't mind.

 

[columbus]

BB(20,2) of nifty futures on time frame 4/6 min are presented below.

Choppy Market:

Go long when Red+Green candles pierce the bottom band and wait for 15minutes
for confirmation after taking position, otherwise come out with stoploss.
Go short when Green+Red candles pierce the top band and wait for 15minutes
for confirmation after taking position , otherwise come out with stoploss.

Strong Market:

If the candles are concentrated in Top band go Long.
If the candles are concentrated in Bottom band go Short.
The Proximity of candles with respect to Outer boundaries indicates the Strength.
More strength means more closer to Outer boundaries.

 

[Raghavacc]

Strong Market:

If the candles are concentrated in Top band go Long.
If the candles are concentrated in Bottom band go Short.

Columbus,

Interested to know on Intradday basis with ref to the TF you make use of ( 4& 6Min) Do you look for specific number of candles when you state "If candles are concentrated on top or bottom band"?

Regards
Raghav

 

[columbus]

Columbus,

Interested to know on Intradday basis with ref to the TF you make use of ( 4& 6Min) Do you look for specific number of candles when you state "If candles are concentrated on top or bottom band"?

Regards
Raghav

Raghav,

I think 15-20 candles on 4min TF consecutively is quite enough in my
personal view.Today and the day before ,we had 2/3th of time in the
TOP band roughly.In the later part predominantly it was in TOP band.

 

[columbus]

BB(20,2) of nifty futures on time frame 4/6 min are presented below.

Choppy Market:

Go long when Red+Green candles pierce the bottom band and wait for 15minutes
for confirmation after taking position, otherwise come out with stoploss.
Go short when Green+Red candles pierce the top band and wait for 15minutes
for confirmation after taking position , otherwise come out with stoploss.

Strong Market:

If the candles are concentrated in Top band go Long.
If the candles are concentrated in Bottom band go Short.
The Proximity of candles with respect to Outer boundaries indicates the Strength.
More strength means more closer to Outer boundaries.

 

[columbus]

BB(20,2) of nifty futures on time frame 4/6 min are presented below.

Choppy Market:

Go long when Red+Green candles pierce the bottom band and wait for 15minutes
for confirmation after taking position, otherwise come out with stoploss.
Go short when Green+Red candles pierce the top band and wait for 15minutes
for confirmation after taking position , otherwise come out with stoploss.

Strong Market:

If the candles are concentrated in Top band go Long.
If the candles are concentrated in Bottom band go Short.
The Proximity of candles with respect to Outer boundaries indicates the Strength.
More strength means more closer to Outer boundaries.

 

[columbus]

BB(20,2) of nifty futures on time frame 4/6 min are presented below.

Choppy Market:

Go long when Red+Green candles pierce the bottom band and wait for 15minutes
for confirmation after taking position, otherwise come out with stoploss.
Go short when Green+Red candles pierce the top band and wait for 15minutes
for confirmation after taking position , otherwise come out with stoploss.

Strong Market:

If the candles are concentrated in Top band go Long.
If the candles are concentrated in Bottom band go Short.
The Proximity of candles with respect to Outer boundaries indicates the Strength.
More strength means more closer to Outer boundaries.