BollingerWorm !!!

[columbus]

and it changed the day's worm shape from approximately M to W

BTW, your instruction no. 6 rocks

Yes,Shape is unpredictable if ATR is low.

One more thing,I will keep the plot size is ,just one fourth to start with.
In other words,at 0915 my plot size is hardly ONE inch,this is to adjust the
chart size in keeping with market hours.It looks more like a ribbon.

 

[timepass]

hmm.. ATR.. In another thread, TraderRavi and someone else were cribbing about 20pts range and stoplosses being hit either way the whole day..

OTOH, today 3 min worm gave clearer trades.

 

[columbus]

We had (5612-5564=48 ) 50 point range ,we was neither GREAT nor BAD,
Average kind of thing.

 

[nazimrushda]

Yes,Shape is unpredictable if ATR is low.

One more thing,I will keep the plot size is ,just one fourth to start with.
In other words,at 0915 my plot size is hardly ONE inch,this is to adjust the
chart size in keeping with market hours.It looks more like a ribbon.

what is plot size ?Please share snap of plot size One inch

 

[columbus]

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 other band and re-enters the body.

5.In case of extreme Bullishness/extreme Bearishness another
pair is used pertaining to BB(20,1) or just for guidance in normal case also.

6.If candles are sandwiched between UPPER bands / LOWER bands
[BB(20,2) and BB (20,1)] ride the trend ,till Reversal is established.
[Both ema-2H and ema-2L are cut by BB(20,1)]

Before 3pm the range was limited to approx 25 points ,afterwards only we saw
another 25 points rise.

 

[columbus]

what is plot size ?Please share snap of plot size One inch

Self-explanatory.

 

[columbus]

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 other band and re-enters the body.

5.In case of extreme Bullishness/extreme Bearishness another
pair is used pertaining to BB(20,1) or just for guidance in normal case also.

6.If candles are sandwiched between UPPER bands / LOWER bands
[BB(20,2) and BB (20,1)] ride the trend ,till Reversal is established.
[Both ema-2H and ema-2L are cut by BB(20,1)]

 

[timepass]

Columbus, did you hit any SL while trading with the worm today ?

 

[columbus]

Columbus, did you hit any SL while trading with the worm today ?

Hi Timepass,

At present I am working on Options.Yesterday we were almost ,on the TOP
Bollinger Band.So ,I took some PE options in closing moments.In case ,had
Markets moved up,I thought of buying some Shares, but today we faced
some technical problem with Zerodha.Some market watches did not show up.

Since the range involved in case of Option is rather low and the quantity taken
by me also is LOW,I did not place any SL.My options is POSITIONAL in nature.

Basically BW is intraday method.

 

[columbus]

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 other band and re-enters the body.

5.In case of extreme Bullishness/extreme Bearishness another
pair is used pertaining to BB(20,1) or just for guidance in normal case also.

6.If candles are sandwiched between UPPER bands / LOWER bands
[BB(20,2) and BB (20,1)] ride the trend ,till Reversal is established.
[Both ema-2H and ema-2L are cut by BB(20,1)]