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Custom Bollinger bands

  • #1
  • First Post: Jul 11, 2016 1:46pm Jul 11, 2016 1:46pm
Hi traders,
I have been looking for bollinger bands indicator that you can set the upper and lower bands with different settings. Do we have someone that have the indicator here?
  • #2
  • Jul 11, 2016 8:47pm Jul 11, 2016 8:47pm
Quoting fxpedia
Hi traders, I have been looking for bollinger bands indicator that you can set the upper and lower bands with different settings. Do we have someone that have the indicator here?

what setting do you want to have?
the default is usually a deviation 2.0 for both the upper and lower bands, using a 20 period simple moving average.
if you want anything other than 2.0, simply change the deviation in the standard indicator setting... for example 1.618 a 'golden number'.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3
  • Jul 12, 2016 2:08am Jul 12, 2016 2:08am
Thank you Emmanuel7788
  • #4
  • Jul 15, 2016 5:05pm Jul 15, 2016 5:05pm
Suggest setting beside BB default:
12 2.8
30 3.0

There is enhanced version on BB, Google: acceleration band
But I suggest to use 20 1.0 instead of default setting of acceleration band
You can set up from 20 1.0, 20 2.0 .... up to 20 5.0
just across band and look more outside.

if you only want different setting, add again and change to setting
  • #5
  • Jul 16, 2016 9:41pm Jul 16, 2016 9:41pm
Quoting fxpedia
Hi traders, I have been looking for bollinger bands indicator that you can set the upper and lower bands with different settings. Do we have someone that have the indicator here?
As someone who traded BB for good amount of time I can tell you its not suitable for forex trading
When price trends strongly BB with simply expend and if you think its "over bought or oversold you can get trapped into for good drawdown or loss.
These goes same for RSI and all Oscillators.Think about this if 90% of retail traders lose using traditional indicators then you must think differently to succeed.
You have to think outside the box in forex.
In trading, you have to be defensive and aggressive at the same time
  • #6
  • Jul 17, 2016 5:13am Jul 17, 2016 5:13am
Quoting Davit
{quote} As someone who traded BB for good amount of time I can tell you its not suitable for forex trading When price trends strongly BB with simply expend and if you think its "over bought or oversold you can get trapped into for good drawdown or loss. These goes same for RSI and all Oscillators.Think about this if 90% of retail traders lose using traditional indicators then you must think differently to succeed. You have to think outside the box in forex.
I agree. If you want use some reference it's better MA bands. When breakout happens you have different ways to play. Normally you wait price touch bands again. Or you can wait price touch MA again for see if is pullback or really price is swinging. But really you have many options to choose. Depends of trader.

PS: MAs reacts slow to price changes then don't suffer breakout problem like BB
Try don't lose pants never...
  • #7
  • Jul 19, 2016 6:40am Jul 19, 2016 6:40am
Quoting braintheboss
{quote} I agree. If you want use some reference it's better MA bands. When breakout happens you have different ways to play. Normally you wait price touch bands again. Or you can wait price touch MA again for see if is pullback or really price is swinging. But really you have many options to choose. Depends of trader. PS: MAs reacts slow to price changes then don't suffer breakout problem like BB
Well, I get new idea to overcome MA delay.
For example, SMA 10 vs SMA 50, in general, price go less than (2*SMA 10 - SMA 50) Virtual Band.
Once quick over and cross back, most likely a turning point.

Besides, the most important thing is to determine current is sideways or trend going.
if trend going, BB outer band = nothing.
if sideways, BB out band hit you back.

I get over 20 methods to determine sideways or trend, thus BB band will be useful.

Another basic BB band usage, like to the other side Outer band
If other side band bend reverse, there may be come from trend to sideways.
One of the basic BB band usage to determine sideways or trend.

check out BB width expands or contracts, expand is trend,
contracts is sideways, start from other outer band.
  • #8
  • Last Post: Jul 22, 2016 7:40pm Jul 22, 2016 7:40pm
lots of BB strategies here:

http://www.forexstrategiesresources....ex-strategies/
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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