BollingerWorm !!!

[timepass]

Is this today's Chart??? Please check again

Thank you. You are right. It is 50:50. The right hand chart (continuous) is today's, but the left hand chart (single day's) is an older one. Making changes in the original.

Thanks once again. Fatigued at the end of the session

 

[timepass]

NF:

The picture above shows 1) Bollingerworm for today (standalone) and 2) Bollingerworm for today as continued from the previous session.


How to draw Bollingerworm :

1.Use standard Bollinger Bands ,that is, bb(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 OUTER of BB(20,1) and INNER band
BB(20,2) then ride the trend .

7.If either ema-2H or ema-2L is cut twice by either BB(20,2),BB(20,1) or
SMA-20 in quick succession ,it indicates a END of a trend.

8.Continuation is indicated if both ema-2H and ema-2L are cut by SMA-20
and/or BB(20,1) and/or BB(20,2).

9.If the trade goes against you and if the divisions on Y-axis is not more
than 10,in that case you can add ONE or TWO trades,atleast 5 points apart.
(Or as per the volatility on that day).

 

[timepass]

NF: Did anyone trade by this strategy today ?? I couldn't. One big lesson is that never trust BB breach in the "neck" region, unless the white lines continue between BB(20,2) and BB(20,1) for next 3-4 bars.

The picture above shows 1) Bollingerworm for today (standalone) and 2) Bollingerworm for today as continued from the previous session.


How to draw Bollingerworm :

1.Use standard Bollinger Bands ,that is, bb(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 OUTER of BB(20,1) and INNER band
BB(20,2) then ride the trend .

7.If either ema-2H or ema-2L is cut twice by either BB(20,2),BB(20,1) or
SMA-20 in quick succession ,it indicates a END of a trend.

8.Continuation is indicated if both ema-2H and ema-2L are cut by SMA-20
and/or BB(20,1) and/or BB(20,2).

9.If the trade goes against you and if the divisions on Y-axis is not more
than 10,in that case you can add ONE or TWO trades,atleast 5 points apart.
(Or as per the volatility on that day).

 

[columbus]

NF: Did anyone trade by this strategy today ?? I couldn't. One big lesson is that never trust BB breach in the "neck" region, unless the white lines continue between BB(20,2) and BB(20,1) for next 3-4 bars.

TP,

On range bound days ,it is always better to TRADE using previous day samples
also.Basically it will condense the chart , so that too many WIGGLY lines
(Right-side chart) will not appear.I am trading in Options rather than in Futures
with higher Time Frame now.(10~15 minutes)

 

[timepass]

TP,

On range bound days ,it is always better to TRADE using previous day samples
also.Basically it will condense the chart , so that too many WIGGLY lines
(Right-side chart) will not appear.I am trading in Options rather than in Futures
with higher Time Frame now.(10~15 minutes)

On days like today, even the 15 min isn't very helpful

I have a curiosity about the EMA strip in BB - on daily TF. In the image below, we see the white lines aligned with the LOWER BBs, but the candle is ABOVE the strip. What kind of trading move does it call for.

 

[columbus]

I have a curiosity about the EMA strip in BB - on daily TF. In the image below, we see the white lines aligned with the LOWER BBs, but the candle is ABOVE the strip. What kind of trading move does it call for.

TP,
It appears to me a bullish reversal is taking place.One more day data will make
the picture clear.

 

[timepass]

NF:

The picture above shows 1) Bollingerworm for today (standalone) and 2) Bollingerworm for today as continued from the previous session.

How to draw Bollingerworm :

1.Use standard Bollinger Bands ,that is, bb(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 OUTER of BB(20,1) and INNER band
BB(20,2) then ride the trend .

7.If either ema-2H or ema-2L is cut twice by either BB(20,2),BB(20,1) or
SMA-20 in quick succession ,it indicates a END of a trend.

8.Continuation is indicated if both ema-2H and ema-2L are cut by SMA-20
and/or BB(20,1) and/or BB(20,2).

9.If the trade goes against you and if the divisions on Y-axis is not more
than 10,in that case you can add ONE or TWO trades,atleast 5 points apart.
(Or as per the volatility on that day).

 

[columbus]

After 10AM NIFTY was highly range bound.

 

[timepass]

After 10AM NIFTY was highly range bound.

Yes, and even when the safe trades showed up on the chart, the index moves were too sharp. Too many spikes.

Columbus, are you getting better trades on 10-15 min TF ?

 

[columbus]

Yes, and even when the safe trades showed up on the chart, the index moves were too sharp. Too many spikes.

Columbus, are you getting better trades on 10-15 min TF ?

TP,

These TFs I mentioned for OPTIONS.As far as Futures are concerned 3min~5min
are better ,because 2 min gives too many signals in the day since the width
of the BB is less.If you use 3min,there is every chance of booking profit early.
So better to keep both TFs (3 min & 5 min) side by side,when dealing with
Futures.