Looking for Bollinger Band with .8 std dev. for MOBO

mate41,

can I ask what indicators you are using? Sorry for being off topic. Your indicators look quite interesting.

-cHiCk3n420

This was a nice trade on the 15 minute USDCAD April 17,2012, a trending day.
Price was below 50SMA and a candle closed below the lower MOBO Band
for an entry.109 pips were banked.
On narrow range days,trading becomes frustrating.

A candle closed above the light blue 50 simple moving average and the upper MOBO Band for an entry.The exit was when a red candle closed below the lower MOBO Band. 60 pips were banked.

Since the first of the year, I have been consumed with re-habbing a new (for us) house, and haven't been able to spend much trading time. Thanks for your contributions to this thread.

Murph

MOBO Bands 10 periods ,0.8 std.deviation.
Sold a candle close below lower band and 50 ema.Exited on a close above upper band.

Indicators.
BBands Custom 3 (see post #16) set at 8 periods and 1.0 std.deviation.
5 EMA (magenta) , 13 EMA (yellow).

Sold when red arrow appeared from BBands indicator and when the candle closed.
Took profit when 5 ema crossed 13ema, i.e. 184 pips
Price is in sideways consolidation after a big move down so I haven't taken another trade.

hey MurphyMan and all

this one works

best

Please elaborate a bit.

As one of my trading methods, I found it interesting to have two BB's duplicated as the pic shows. They are BB (20, 2.0) and (8, 0.8).

With the wider BB the norm is to trade the retrace from the extreme but I have found it to be a bit loose when trading very short tf's such as M1, M2, etc.

While googling, have come across your thread looking for (xx, 0.8). I knew it is possible with Oanda java platform, and with a bit of experimentation have come out with the duplicated application.

The pic is with M5 to show some of the trades today (I trade M1 in the main). It's far from the ideal with many spontaneous scalps, so am a bit shy to post but thought it may give you some idea.

I am not clear about what MOBO is. So this may be totally out of scope of this thread. Sorry for that if it is the case.

My intention was simply to post the BB indicator for MT4 that can be used if one wanted fractional deviation such as 0.8, 0.5, etc. as I thought you were looking for that.

Hope it helps.

PS: The time on my charts are Japan time (GMT +9).

Here are MOBO bands desribed by the recently late David Elliott. Better presentations exist, but this is the first I found easily.

http://files.meetup.com/81154/David%...IT%20NOISE.pdf

Thanks for the info. Will take a close look.

Here's a 15minute chart with the Bands set at 9, 0.9 .

Here's a trade on the 15minute chart with Bands set at 10, 0.8.

Hi,
Dear Traders, where can I find the attached mobo bands indicator to download ?

MOBO bands are more useful as an exit indicator than for entry. Reading this thread I notice some fundamental misconceptions. If a candle moves above the upper band doesn't mean anything. It's the close that is important, and then only if the previous candle was in a downtrend "state". It's a defect in the study used by thinkorswim (which I authored) and something I will probably get around to correcting someday. Further you get far better results if you get confirming open in the next candle. This really isn't a problem for someone that knows how the study works, but for many it can give wrong results. The color of the cloud is dependent on the "state" of the prior candle, something which was not programmable in thinkscript until the introduction of recursive variables.

regards,
david
For more info email: { email address deleted by staff }

Feel free to contact me for additional info and source code for the study. I didn't know my contact info was "deleted by staff" until today, so contact them for my contact info.
regards
David