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Dear Sir,
I have a question about Bollinger Bands Supposing (by
Metastock Exploration)
I have a chart where %b>0.8 and MFI>80 --which is a buy in BB Band Method
2--does the pattern on the chart (like retest and so on) as given in Mr.Bollinger's book
need to match before I go long or can I go long straight away by
looking at the %b and MFI values.
Similarly for Method 3 buy if I have a chart (via Metastock Exploration)
where%b<0.1 and II%>0 , do I need to match the patterns like double bottoms and
sign-of-strength before going long or can I go long straight away just by the %b
and II% parameters.
Regards,
Dr.Sourav Chatterjee
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Rank: Advanced Member
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Mr. Bollinger, in his book and in the video of his seminar, esposed the opinion that his systems were starting points from which he expected people to build, explore, and develope trading models suited to them. The patterns a methods in his book were just starting places. That is why his formulas in the Bollinger Band Toolkit were not password protected. He wanted his users to be able to change and adjust them.
Therefore, I would suggest you apply the approach that works best for you. If you are not sure, paper trade both methods and see which ones give the best signals.
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