Your question, and others related to it, were well and fully answered in this post and the post following it (by learner2007 and wrbtrader) but I think you haven't yet quite appreciated what they said.
Bollinger Bands, is not a bad choice Sir, in terms of measuring the boundary (or volatility whichever term you're more familiar with). But candle chart works when you also use the moving average. Since you're talking about research, and as an academic researcher myself, literature only have used some simple methodology to test candlechart and many of them don't even have real trading experience either Sir. Well, I wouldn't want go specific about it because it's going off the topic.
I'd also look into Linear Regression Channels...in particular the ones that are self adjusting in RT.