Bollinger band trading with MAs

This one?
Entered at A or B?
The MA cross on that one was worth 20 alone but looks like you got a lot more.

[B]TALOND[/B]

Matt’s been using only the 15m chart 3/7/14 LWMA… nothing fancy. Compounding up a small initial capital account for a little over three years.

Trades only London open (09:00 GMT) until New York open (13:00 GMT). Figures he has more control over trades when its not full on like London - New York open. He’s right of course. A slow and steady trade to about 20 pips and out. Is better than up 50 pips one moment down 75 the next. Usually only one trade of about 30 mins to an hour a day.

[B]SanMiguel[/B]

Entered at pint ‘A’ just after the wick and change of candle and colour. Out at center boll line. Did the same again on the next up. Not so many pips this time as exited again at the center line boll.

Both trades were based on strong support line and not ma this time. :slight_smile:

[B]SanMiguel[/B]

Have not checked as I only have the 15m, 1h and 4h up. But would be willing to bet both trades would have been good entries on the 5m for boll bouncing off support?

[B]SanMiguel[/B]

I like what you have done to the first post on this thread re edit. This makes things a lot clearer from the start. Good job. :slight_smile:

This thread is getting better all the time. Love all the changes. Great job guys and gals.

Johnny

Entered at the open of the blue candle or the close?
For some reason I though it was a group of 3 candles we had to wait for:
grey candle with wick
then a blue candle
and then enter on the open of the next blue candle (B)

I suppose in this instance there’s a support line there so the wick gives a good indication of what’s happening.

[B]SanMiguel[/B]

I waited for the wick/shadow at S/R on the down candle on 15m chart. Then when second candle changed colour (up colour) I entered long. First trade at ‘A’ on your chart. Second trade at bottom of the ‘V’ on your chart, trade went positive then fell back to BE on second candle. Third candle broke positve again. Exited both trades at 15m center line Bollinger.

I have a three monitor set up. So have the luxury of puting up half page charts on 5m, 15m, 1h and 4h charts to two monitors and a seperate monitor for trading consul and all other bits and pieces. :slight_smile: I am mindful that most traders don’t. So have been seting up a one chart trading system based around the 5m chart i.e. half monitor chart other half for other bits and pieces or just a full screen and hide everything else with minumise.

I’m chief cook and bottle washer this weekend so give me a mo and I’ll suggest all the settings needed to benefit from the 5m, 15m and 1h all on one chart. I’ll give you the settings and perhaps you could put up a chart for all to see? :slight_smile:

Yep, no problem.
Although, I have my 3 charts on 1 screen - 20" monitor though.
1hr top left, 15 top right, 5 bottom right and bottom left I just have a few random bits and pieces, maybe the eurusd 15min.

wick then enter next candle on colour change.
For some reason I was using wick, then wait for close of a colour change candle, then enter.
How long would you say the wick has to be? 30-50%.
What say we get a grey candle no wick, then a blue bullish candle, doesn’t really confirm anything.
Suppose you move the BE pretty quickly in these cases? 10-15pips up?

The 2nd trade in those charts, it doesn’t really wick much but does touch the bollinger.

Thats the chicken basted and in the oven, wifes a ‘vegetablist’ and only knows two ways to cook meat… raw or shoe leather! :smiley:

OK, I’m assuming were all interday traders here? The thread works well on the longer charts but we have primarily concerned ourselves here with looking to the 1h for strong S/R levels and trading the 15m based on bollinger and ma.

The principle problem with focusing on one chart alone is tunnel vision. I was guilty of that Friday looking to the longer charts whilst SanMiguel correctly identified a move down which I completely missed! :stuck_out_tongue:

So I propose the following set up:-

5m Chart.

LWMA set to 3/6/9.

Bollinger band set to 2 std dev and 20 period.

OK thats the 5m chart set up as a 5m chart enabling you to catch the ma line ups at the outer edges of the bolls.

But how to also keep an eye on the 15m and 1h chart for a better understanding of where intermediate and longer term market sentiment is going?

If we add to the 5m chart a 60 SMA this will very closely approximate the center line of the 15m bollinger. Add a 200 SMA to the 5m chart and this will also very closely approximate the 1h center line bollinger.

Now we sort of have a three dimensional chart up covering the faster time of 5m and can take full advantage of LWMA for both short scalp trades or the set up on the longer 15m trades.

The three center line bollingers give a clear direction of PA but also the likely area that PA will will reach given the three center line bollingers. Also the 5m and 15m cross is a very good indication of who has the upper hand Bulls v Bears. If 15m center line bollinger clearly crosses the 1h center line bollinger, then we may well have a major longer term reversal going on. :slight_smile:

I have a black back screen set up om my trading platform (easier on the eyes) and up candles blue, down candles gray. With fast ma (LWMA) 3/6/9 all set to red. 5m center boll set to green. 15m center boll set to yellow. 1h center boll set to red. These colours suite me obviously on your set up colours will vary.

[B]SanMiguel[/B]

I have three 21" monitors… ‘mines bigger than yours’. :D:D:D

Yep. I always wait for a wick and the second candle to change colour preferably also with a wick. No wick at the outer bollinger band. I aint getting in! :slight_smile:

Talking of one up-manship. One of my sons who is a pro retail trader, has a bedroom set aside in his own place for trading and has a 60" TV on the wall with everything attached. He can fit loads of charts, email, music, tv and you tube all up at once! :smiley:

(Sigh) [I]want…[/I]

Change 1h SMA on above to 260 SMA on 5m chart for exact fit.

Just for clarification. :slight_smile:

Besides the 5m 3D chart below. I have a 15m chart open with a 2 std dev bollinger (20 period) Center line boll yellow with a 85 SMA indicating the 1h centerline boll and a 7 SMA indicating the 5m center line boll.

And a 1h chart open with a 2 std dev bollinger (20 period) center line boll red with a 7 SMA indicating the 15m center line boll.

Think that cover’s it. :smiley:

I have the 3 charts open so hopefully good but I agree these settings are great for the intraday trader with only one small screen.
Are these MAs exact or are they approximations of the midline bollinger on the higher timeframes? I think in metatrader, we might be able to draw the exact boll line with a bit of code…I’ll have a look.

[B]SanMiguel[/B]

Took a couple of hours trying to get it exact as possible. Looks bang on as makes no difference to me. I am going to trade the 5m chart this week. The 3/6/9 LWMA line up far earlier than the 15m chart. Had the markets been open earlier for us could have quickly realised support had once again held and taken 50 pips on that up.

5m MA’s are lined up in the long position but up against the 1h center line boll. Looks like we might have a break up as boll is also tightening? :slight_smile:

They do but I find a lot of noise on them as well particularly for when to exit trades so exiting might be better off the higher TFs?
I’m gonna stick with 15 for the trend buys for the moment I think but take boll bounces off S/R on the 5min I think.
Oh and also the 3 chart upper/lower half bollinger thing - we really need to give that a name :confused:
That’s my 3 for the week to master :slight_smile:

Hmmm… how about [B]‘three line whip’[/B]… too political? Whips push votes in one direction. Center line bolls do the same. :D:D

[B]SanMiguel[/B]

You take that trade? I entered at 1.5969 expecting no more than 15 - 20 pips (around the 15m center line boll). [B]Wow[/B]… Its a Sunday night as well!