Discussion in 'Technical Analysis' started by padutrader, May 9, 2018.
Are they any good?
Do they Rock?
After 20 years of trying, you tell us!
yep i started out with them.
did not do well, not Bollinger"s fault
but i do not think any indicator can be used without some idea of price action, ALONG WITH A HEALTHY DOSE OF idea of market pulse,which you can only get with experience.
But volatility is an important characteristic of market and i think they are volatility bands.not sure though
Look up Kagi charts with Bollingers. They work pretty well together...
Yes....they are useful. Here are a few scenarios.
With daily data, previous month was a 12 month high.
Daily close is below the lower Bollinger band.
There is a strong probability that the previous high will be tested.
With daily data, previous month was a 12 month low and was below lower Bollinger band.
The prior two weeks were down.
Todays close is up big.
There is a strong probability that there will be a good sized bounce before further selling.
They can come in handy. I've been looking at BBs on crypto lately and seeing some value.
John's a good guy. He maintains a private email discussion group for those interested in Bands. You can ping him if interested in participating.
Maybe this is your problem you want to know a little of everything and not a lot of one thing.
“Chase two rabbits catch none”
I have been looking at his bands for 15 years. That being said, I still want to see his yacht too...
The utility of *any* technical indicator depends on
1) the constancy of the market, with respect to history [the market-lagging inputs]
2) the intention of the indicator to draw attention to trend or to trend-breaks (as in, BBs)
3) the look-back parameters (which 90% of traders leave as God-given and fixed)
4) how the indicator is used: whether as an auto-trading trigger or for discretionary support.
That said, "Are Bollinger Bands any good?" Yes.
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