Is it possible to put on a 5 minute chart, the standard bollinger bands with 2.0 deviations - -as well as on that same chart the 1 chart bands, as well as the 4 hr chart bands.
(So I can see them all on the 5 minute chart?)
Simple multiplication.
Here’s a template.
Use it on the 5 minute chart.
The blue Bolls are the 20/2 for the 5 minute, the red Bolls are the 20/2 for the 1 hour, and the yellow are the 20/2 for the 4 hour.
I use the “open” instead of the "close, but you can change anything you want, including the colors, and save the template as you wish.
Cheers!
triple bolls.zip (537 Bytes)
Thanks Master Tang.
I think I may have discovered my major flaw.
I make things way to difficult - I was about to set out creating a new indicator, because I went from simply wanting what you provided, to wanting it adjustable to any timeframe -
SO I could enter my time frame - and the other two timeframes I wanted to compare to and it would pop up like yours does.
BUT WHY FOR goodness sakes. - If I find later that I need that, then I can spend the time creating it.
Anyways a BIG Thanks.
Now if I can just turn a consitent profit. . . .
Do you know what means: Bollinger Bands (30,3). What means numbers?
Thanks!
30 is the MA, 3 is the deviations from it, how far away it is from the MA comparatively to what has happened in the previous 30 candles, there is a far more complex answer, most of which may be of interest but of no trading value whatsoever.
But remember your Bollinger band is not what you should be trading of, you should be trading off the price action and using your indicator as a guide, I said in another posting that yes BB are useful, but I trade by looking where is the half way mark between peaks, I don’t like BB, that’s just a personal thing because my technique is very similar and I’m definitely not knocking them.
The key is if you use indicators to use them as a guide and enter on the price action.
the problem with multiple BB’s is that ur chart will look too messy.
Once you get used to see charts with B-bands, it does not look messy 
But then I only use the default setting. Personally, 3.0 deviations not necessary.
3.0 deviations? You’ve lost me there. Please can you explain?
Bollinger Bands have a ‘central’ line, and 2 ‘outer’ lines, these outer lines are determined at least in part by the standard deviation.
Oh ok. Thanks.
True; even one BB with others technical tool is a messy setup!