Bollinger band trading with MAs

[SanMiguel]

On the bb bounce what if there is a long candle that goes outside the outer bb band but it doesn’t have a wick or has a very small wick and the next candle is a color change ?

Probably risky but it does work sometimes. I think RC once said if there isn’t a wick then don’t get in the trade at that point. The wick shows a change of power/sentiment for that particular time.

Does raise an interesting question though on how big the wick should be. The class A setups are probably hammer type/hanging man type candles but that won’t always happen.

[Mgsupra101]

Hey guys quick question. Im trying to setup a new method…but it requires the MA of momentum…is this possible in deal book …? is there like a different indicator with a diff name that does that? thanks

[SanMiguel]

Well there’s the 16:00 gmt dip on schedule. I wonder why that happens so often?

Probably RC exiting all his trades for the day before heading home.

[system]

Just looking through the charts since Sunday, if I had taken every wicked candle that touched the 15min 20:3, the majority would have been positive trades.

I am not using 15m, 20:3. I am using 5m 5:1, 20:3 and 20:2. And I’m not trading boll bounces either.

I’m trading retraces with wicks @upper and lower 5:1 and where middle BB aka 20 is pointing @around 2 o’clock.

[SanMiguel]

@cas

I am not using 15m, 20:3. I am using 5m 5:1, 20:3 and 20:2. And I’m not trading boll bounces either.

I’m trading retraces with wicks @upper and lower 5:1 and where middle BB aka 20 is pointing @around 2 o’clock.

I thought it was 15m from below.
It’s kind of boll bounces
So, are you mainly taking 5:1 in both directions or only in the direction of the middle 20BB? I know you said today it was retracements as well…
Got an example?
I’m assuming (but not sure) it’s:

• retraces when wick outside 5:1 and 20:2 (countertrend)
• then a trade with direction of trend when price wicks on 5:1 and overall PA near the centre 20 boll?

@cas

The 1:5 travels outside the 20:2 and on top of 20:2. Sometimes the 1:5 splits the distance between 20:2 and 20:3. With the 1:5 in that position you are able to track PA movement very accurately. Because the 1:5 is very…very fast if set as recommend by R.C. As long as PA keeps travelling in area between 20:3 and 1:5 price is moving without retracement I noticed.

Also 1:5 allows for pin point accuracy in countertrade entries and exits. PA wicks on outer 1:5 you enter and exit on the opposite outer 1:5 as soon as PA touches it and wicks.

BB bounce entries are also more accurate. Instead of waiting for candle color change and losing pips on the wick you enter as soon as candle wicks and steps into 1:5 “tunnel area”.

This morning during GU breakout I counter traded the retracements with 1:5 on 15m as described above.

Wouldn’t have worked without the 1:5.

[Mgsupra101]

Not be a pain in the ass but does anyone know? Also a period is cosidered to be 1unit of time correct?

Mike G

[TalonD]

sorry, I don’t know anything about deal book, I’m using metatrader and Oanda web based platform

I would think a ‘period’ would be a unit of time / candle depends on what time frame chart you have up?

[Mgsupra101]

Ah ok the period thing I figured. But yeah I need a mommentum indicator with a MA …apparently you can use this as a confirming signal

Mike G

[SanMiguel]

Hey guys quick question. Im trying to setup a new method…but it requires the MA of momentum…is this possible in deal book …? is there like a different indicator with a diff name that does that? thanks

Ask here.
If there is a momentum indicator, then it can be coded around to produce an average:
Forex Trading Software - Online Currency Trading Software - Chart Studio� Forum

[Mgsupra101]

Ah ok good =) never knew about that. Man Iv’e been reading this blog and learning about a ton of new indicators…what they do and how to use combinatins of them…and ive been testing them demo…wow lol just wow =)

Mike G

[Mgsupra101]

I think I might be switching companies to be honest…I need like 90% of the indicators they dont give you when you have a mini account.

Oanda time?

Mike G

[TalonD]

Oanda doesn’t have a huge inventory of indicators, I don’t really like their charting software. What I do like about them for a little guy like me is the ability to use small lot size. Also they have very fast execution of orders. And you can drag your TP and SL on the chart, I like that.
But for indicators and drawing trends and bollingers etc. I use a metatrader demo account with IBFX , their demo account doesn’t expire like some do.
And metatrader does have a momentum indicator. Not sure if it’s the one you have in mind though.

Actually I just went and checked my Oanda, it does have a momentum indicator.

[Mgsupra101]

Yeah Momentum indicators are very common…its getting a MA on the momentum indicator chart that interacts with the momentum indicator is what i need its a confirm buy or sell signal along with a 8/10 SMA on the chart itself

Ah and see with deal book I can get a MOM indicator on a chart with a SMA but they two different things…as im seeing it I need a MA of a MOM lol so like San said i probably have to have one coded for me.

[TalonD]

quiet tonight, anyone trading? I’m following MAs on the Asian. someone said it’s like watching paint dry.

[Mgsupra101]

Haha im about to setup a new method I learned…using MOM/MACD its pretty wicked…

[TalonD]

let us know how it goes. So you found that momentum indicator you needed?

[Mgsupra101]

Not exactly…that’s a different method i tend to try if I can find a MOM indicator that has a MA with it…other wise this method is a bit indepth so i’ll let everyone know details on it whether it be tomorrow or next monday depends on how well i pick it up and see if it works.

Mike G

[SanMiguel]

Took this retrace for 30pips off support - possibly dangerous given the large down move but it was 30mins or so after the news.

[TalonD]

good move SanMiguel. As usual, I slept through all the good stuff after watching paint dry in the Asian sesssion. Think it will continue on down ?
I’ve got a sell based on my 1h MAs but the 10:30 ish candle spike up is going against me.

[SanMiguel]

good move SanMiguel. As usual, I slept through all the good stuff after watching paint dry in the Asian sesssion. Think it will continue on down ?
I’ve got a sell based on my 1h MAs but the 10:30 ish candle spike up is going against me.

It’s a sell based on your 1hr MAs but overall trend is pretty bullish on Daily and 4hr charts. 4hr has some nice reversal candles though.
You could always hedge as per RC? Can’t remember where that post was now.

15min is still in lower half - maybe PA will check out the 1.65 area again.