BollingBands for use of the 2 SD andddddd ?

Good Afternoon,

I am needing others with knowledge and expertise in Indicators and the Tweaking of various Indicator's settings, to please help me in Adding an Indicator ( preferably one I can Plot on the Chart itself/ Overlay it with the BollingerBands ) onto my charts THAT ........ will Give a " similar " 2 Standard Deviation Level , but with a Slight twist, so that it Constantly gives Support/Resistance levels, Below and Above a Default BollingerBands 2 SD levels ?

I guess I can always just change the BollingerBands to a 1.7 or maybe a 2.3 x the ATR/ADR ,
but I am curious if there is an Indicator out there , that Adds legitimacy / Strength to the 2 SD Levels plotted from BollingerBands

Hopefully my question makes sens

Thanks fo any and all help and input

 

On what platform?

 

Sorry about that ....... On NinjaTrader and or ThinkorSwim ( I use both Platforms )

Thank you again

 

In TWS-land, this is called an Envelope.

 

IMHO, Bollinger Bands are a waste of time. Just my opinion.

 

If you are interested in a method utilizing standard deviations, look at John Ehlers' Fisher Transform. You still are required to choose a lookback period however. Since market data is fractal in nature, one value of N is probably just as good (or meaningless) as any other value of N.

 

What does that mean to you?

 

Thank you panzerman

 

Here you go....but what`s the point in it,amigo?

 

“Keep It Simple Stupid” is very important rule when it comes to trading or anything else in life for that matter. Trading indicators work best if they are kept simple rather than made complicated; Therefore simplicity should be a key goal in designing any trading system and complicity should be avoided.

Good luck!