I am looking for a Bollinger Band indicator that I can set to a .8 standard deviation.
There is a great stock trader/teacher named David Elliott a.k.a. FirstWave who likes the BBs. Unfortunately, he only trades futures on the Thinkorswim brokerage. (Google FirstWave and MOBO).
But, if you change the standard deviation to 0.8 you can really see the trend.
FirstWave calls them Momentum Bands, or MOBO for short, because they help visualize the momentum of the change. Candles outside of the MOBO bands means strong momentum.
I would like to apply MOBO to Forex but I need the ability to get the .8 standard deviation setting.
Any suggestions? It would look something like this.
MOBO strategies welcome.
Murph
Edit:
Solution: Use "bands indicator. Set the BandsPeriod to 14 and BandsDeviations to 0.8.
There is a great stock trader/teacher named David Elliott a.k.a. FirstWave who likes the BBs. Unfortunately, he only trades futures on the Thinkorswim brokerage. (Google FirstWave and MOBO).
But, if you change the standard deviation to 0.8 you can really see the trend.
FirstWave calls them Momentum Bands, or MOBO for short, because they help visualize the momentum of the change. Candles outside of the MOBO bands means strong momentum.
I would like to apply MOBO to Forex but I need the ability to get the .8 standard deviation setting.
Any suggestions? It would look something like this.
MOBO strategies welcome.
Murph
Edit:
Solution: Use "bands indicator. Set the BandsPeriod to 14 and BandsDeviations to 0.8.