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Bollinger bands

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The Magician

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Bollinger bands represent a pretty hopeful tool in that it provides information about market dynamics (volatility) in ways that can be very useful. If you think about it, the tool allows you to read off five separate lines what some may view as so-called support and resistance levels in much the same way as you read the regular pit trader pivots. But it dynamically adjusts these levels in line with market action, and scales to any time frame of your choice. So it is pretty versatile in that sense. BUT BE WARNED THAT THE STANDARD TOOL PROVIDED IN THE USUAL MT4 INDICATOR BANK, EMPLOYS THE WRONG FORMULA AND IS COMPLETELY FLAWED FOR GIVING ACCURATE VOLATILITY READINGS. Therefore, if you want the accurate (correctly formulated) tool, look for what is called Better Bollinger Bands via google. That is the correct tool and it WILL certainly improve your readings of market action by yards insofar as volatility measure is concerned. The standard Bollinger Bands is very misleading and one wonders why metaquotes has not removed such an incorrect rendition of John Bollinger's idea for the properly calculated BBB tool.  A word is enough for the wise.
#121 - April 12, 2019, 09:42:42 AM
« Last Edit: April 12, 2019, 10:57:59 AM by The Magician »

Hsim

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Quote from: Agjsltn on February 09, 2019, 11:10:43 AM
Bollinger bands is the default indicator that is on mt4 / mt5 this indicator is very suitable to use when the market is in sideway conditions, the way to enter a position is when the candlestick forms the bottom line or the upper line of the Bollinger bands. This indicator is very suitable for scalping. but when the market is in an uptrend or downtrend this indicator is not suitable for me.
how do you analyze the market using the correct BB indicator?
#122 - April 14, 2019, 03:51:25 AM

The Magician

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Quote from: Hsim on April 14, 2019, 03:51:25 AM
how do you analyze the market using the correct BB indicator?
You use and analyse the BBB tool the same exact way as the very flawed BB - difference is that you get accurate readings with the former and flawed inaccurate readings with the latter.
#123 - April 14, 2019, 03:09:07 PM
« Last Edit: April 14, 2019, 03:19:25 PM by The Magician »

tebi

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Quote from: The Magician on April 14, 2019, 03:09:07 PM
You use and analyse the BBB tool the same exact way as the very flawed BB - difference is that you get accurate readings with the former and flawed inaccurate readings with the latter.
Hello, I don't know about this BBB tool. the main advantages are what you can explain.
sorry, I'm still a beginner
#124 - April 14, 2019, 05:41:41 PM

The Magician

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Quote from: tebi on April 14, 2019, 05:41:41 PM
Hello, I don't know about this BBB tool. the main advantages are what you can explain.
sorry, I'm still a beginner
When you are a beginner you find things out in detail. To do that, you google stuff you do not know and read and read until you not only understand - but are able to test and apply stuff in your own way. There are no experts in this business and becoming competent means not just knowing stuff but being in a position to decide what you want to pick from the many options to combine into the unique few that you can depend on to trade in a style that fits your personality. I have traded now over 13 years and I still read and read stuff on the web. I encourage you to do the same - if you depend on people - you will never gain the confidence to make up your own mind. To trade effectively you not only need knowledge but a mind of your own (otherwise you will easily get confused and Never forget it is your money at risk). Cheers
#125 - April 14, 2019, 08:31:51 PM
« Last Edit: April 15, 2019, 01:40:16 AM by The Magician »

ageseko

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Quote from: M.SbrFX on April 11, 2019, 02:32:54 AM
good also combined with MA it will make it stronger.
but depending on the tastes of each trader there are also those that are combined with SMA, MacD etc.
the point is if you are more suited to the MA then focus and learn constantly.
correct sir, the problem of taste cannot be separated from the use of indicators which will be used
#126 - April 15, 2019, 02:41:10 AM

Chiffa

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Quote from: ageseko on April 12, 2019, 12:33:32 AM
indeed it will be very good if it is according to each choice
Of course with each habit for the combination. because different traders have different strategies.

the most important thing is to make good and many profits.
#127 - April 16, 2019, 02:18:52 AM

Stock

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Quote from: Agjsltn on February 09, 2019, 11:10:43 AM
Bollinger bands is the default indicator that is on mt4 / mt5 this indicator is very suitable to use when the market is in sideway conditions, the way to enter a position is when the candlestick forms the bottom line or the upper line of the Bollinger bands. This indicator is very suitable for scalping. but when the market is in an uptrend or downtrend this indicator is not suitable for me.
I still don't understand how to determine the analysis using the BB indicator.
#128 - April 16, 2019, 02:38:57 PM

The Magician

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Quote from: Stock on April 16, 2019, 02:38:57 PM
I still don't understand how to determine the analysis using the BB indicator.
There is a site babypips.com that is important you visit as a newbie and it is a universal resource for newbies. Everyone (trader) starting out begins their learning from that site. It has simple and direct lessons on everything forex trading and that is where to begin. Go there and by the end of today you will know exactly all there is to know about how to trade Bollinger bands or any other basic trading strategy or tool you want or need to learn about. Forex is not so simple that you can expect to gain perfect insights that make you a good trader from a forum such as this (any forum at all). Forums such as this are supposed to allow people with the basics exchange ideas, information and so forth among people confident enough to have developed their own trading systems and are active traders. Please consider this a friendly advice to you and all other newbies. It will really help your trading to access the resources on the site I mentioned. Cheers
#129 - April 16, 2019, 03:06:22 PM
« Last Edit: July 17, 2019, 12:58:02 AM by Admin »

Sant1

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Quote from: The Magician on April 16, 2019, 03:06:22 PM
There is a site babypips.com that is important you visit as a newbie and it is a universal resource for newbies.
Thank you for sharing, at the link it seems that indeed we will find understanding and information to learn about bollingerband. indeed we have to get more insight not only learn from one source.
let's applaud
#130 - April 16, 2019, 04:04:55 PM
« Last Edit: July 17, 2019, 12:58:26 AM by Admin »

ageseko

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Quote from: M.SbrFX on April 16, 2019, 02:18:52 AM
Of course with each habit for the combination. because different traders have different strategies.

the most important thing is to make good and many profits.
Quote
Quote
indeed it will be very good if it is according to each choice

Of course with each habit for the combination. because different traders have different strategies.

indeed it will be very good if it is according to each choice


right sir, because it will be adjusted to the comfort of the trading

run it
#131 - April 17, 2019, 07:03:12 AM

rahayu

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well sir, I'll see how to analyze it later
#132 - April 18, 2019, 12:39:01 AM

ASHfx

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Quote from: The Magician on April 17, 2019, 01:55:33 PM
For anyone interested in seeing how I personally apply Bollinger band analysis (i.e. Better Bollinger Bands in my case) please see a post I wrote to question the logic and premise of a Dailfx.com analyst on Gold prices here...
thank you for sharing, there indeed your discussion is very clear and can help trade friends here to learn more. as in SS this is your analysis.
#133 - April 18, 2019, 07:18:11 AM
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The Magician

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Quote from: ASHfx on April 18, 2019, 07:18:11 AM
thank you for sharing, there indeed your discussion is very clear and can help trade friends here to learn more. as in SS this is your analysis.
My analysis is NOT the article, my analysis is the comment by Ramatu below the article in the comments section. In my analysis you can find my three charts and discussion challenging the analysis of the analyst who wrote the article. Please look below the article and in the comments section to find my analysis which you may find informative and interesting if not instructive about how to read the market with Better Bollinger Bands. Cheers

PS: It is important to read the analysis on Gold by the Dailyfx analyst first (only Gold at the top) then review my comments and the three charts I provided for Monthly, weekly and daily in the public comments section below the article in order to understand what this is all about. Best wishes.
#134 - April 18, 2019, 07:52:41 AM
« Last Edit: April 18, 2019, 08:29:39 AM by The Magician »

paidto

Quote from: ageseko on April 17, 2019, 07:03:12 AM
Of course with each habit for the combination. because different traders have different strategies.

indeed it will be very good if it is according to each choice


right sir, because it will be adjusted to the comfort of the trading

run it
so it can be combined with other indicators, sir? ok sir, later I'll try to make conduction with the indicator that I usually use



#135 - April 21, 2019, 03:41:26 AM
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