BollingerWorm !!!
- Thread starter columbus
- Start date
Thanks for the link. I read the rules as follows:
1.Use standard Bollinger Bands ,that is, bb(s,20,2).
2.Use ema2-HIGH and ema2-LOW to outline the body of the worm.
3.If the body comes out of bands & re-enters ,then make an ENTRY.
4.The EXIT is, if body comes out the band,of the other colour.
Regarding point no 3, pl tell me shud I take entry ONLY if both the EMA outlines goes out of BB & comes in OR just even 1 (EMA H or L) goes out is enough to take trade decision ?
Regarding point no 4, pl tell me how to deal with the situation when the EMA outline gives the entry but instead of going out of other color BB, it comes out from same color as entry? Should I take it as SL hit OR wait for it to go out of other color BB ?
Thanks !
1.Use standard Bollinger Bands ,that is, bb(s,20,2).
2.Use ema2-HIGH and ema2-LOW to outline the body of the worm.
3.If the body comes out of bands & re-enters ,then make an ENTRY.
4.The EXIT is, if body comes out the band,of the other colour.
Regarding point no 3, pl tell me shud I take entry ONLY if both the EMA outlines goes out of BB & comes in OR just even 1 (EMA H or L) goes out is enough to take trade decision ?
Regarding point no 4, pl tell me how to deal with the situation when the EMA outline gives the entry but instead of going out of other color BB, it comes out from same color as entry? Should I take it as SL hit OR wait for it to go out of other color BB ?
Thanks !
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Hi Sammy.Young,
You missed point.5 which is crucial.
Regarding point no 3, pl tell me shud I take entry ONLY if both the EMA outlines goes out of BB & comes in OR just even 1 (EMA H or L) goes out is enough to take trade decision ?
Even ONE is enough.
Regarding point no 4, pl tell me how to deal with the situation when the EMA outline gives the entry but instead of going out of other side BB, it comes out from inside again as entry? Should I take it as SL hit OR wait for it to go out of other side of BB ?
It is always not necessary for a ENTRY to go out of otherside of BB.
Once it hits a SL line,close the entry.
This is illustrated below and also point.5
You missed point.5 which is crucial.
Regarding point no 3, pl tell me shud I take entry ONLY if both the EMA outlines goes out of BB & comes in OR just even 1 (EMA H or L) goes out is enough to take trade decision ?
Even ONE is enough.
Regarding point no 4, pl tell me how to deal with the situation when the EMA outline gives the entry but instead of going out of other side BB, it comes out from inside again as entry? Should I take it as SL hit OR wait for it to go out of other side of BB ?
It is always not necessary for a ENTRY to go out of otherside of BB.
Once it hits a SL line,close the entry.
This is illustrated below and also point.5
Hi Sammy.Young,
Sorry for late reply.
Please attach a chart for any day, I hope I can help.
Please remember "V" for Buy and "Inverted V" for Sell.
As far as tweak is concerned you add in place of BB(20,1), two more
lines pertaining to BB(20,1.8) and BB (20,1.2).
I do not know behaviour and time frame to be chosen for CRUDE OIL .
For NIFTY I prefer 3 min and 5 min.(Perhaps these may be LOW for crude oil)
Sorry for late reply.
Please attach a chart for any day, I hope I can help.
Please remember "V" for Buy and "Inverted V" for Sell.
As far as tweak is concerned you add in place of BB(20,1), two more
lines pertaining to BB(20,1.8) and BB (20,1.2).
I do not know behaviour and time frame to be chosen for CRUDE OIL .
For NIFTY I prefer 3 min and 5 min.(Perhaps these may be LOW for crude oil)
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