Trade with Simple Strategies

[timepass]

two three things related to bollinger bands.
1. check the slope of the middle band . If it is sloping up then long trades only. If it is sloping down short trades only.
2.Price approaches the upper band and the upper and lower bands remain flat there is a REVERSAL chance.
3.Price approaches the upper band and the band goes up and the lower band is flat, or slightly sloping up the price will go up slowly for time being.
4.Price approaches the upper band and the upper band goes up and the lower band goes down the price will shoot up fast.
5.Price approaches the upper band and the upper and lower bands both slope down REVERSAL chance.
place stops or reverse trade when a bear candle closes below the middle band.

Disagree with point no. 1. It may be ultra safe, but for intraday, if the oscillator confirms it, then one can risk the trade with 20SMA as T1. Waiting for the 20SMA to turn green may make you miss out on some trades.

 

[vinst]

1) Why use 7 period for RSI ?? Normally RSI is calculated on 14 period. 7 may give earlier signals but maybe more whipsaws. As the image below shows, RSI(7,E9) has entered OB zone much master than RSI(14, E9). Also, it shows exits OB zone faster and shows bearish crossovers (which later turn into hooks and kill the bearish trade, if any, taken as per this strategy).

2) Why 15 min TF ?

PS : No disrespect, but this is just like Bollingerworm on 15 min TF.

I guess using Bollinger bands of 20,2 setting is unique only to John Bollinger and not to any one subsequently. Since John B has made its status like a text book article, it now belongs equally to everyone .

 

[vinst]

two three things related to bollinger bands.
1. check the slope of the middle band . If it is sloping up then long trades only. If it is sloping down short trades only.
2.Price approaches the upper band and the upper and lower bands remain flat there is a REVERSAL chance.
3.Price approaches the upper band and the band goes up and the lower band is flat, or slightly sloping up the price will go up slowly for time being.
4.Price approaches the upper band and the upper band goes up and the lower band goes down the price will shoot up fast.
5.Price approaches the upper band and the upper and lower bands both slope down REVERSAL chance.
place stops or reverse trade when a bear candle closes below the middle band.

w.r.t. the first point: taking trades in direction of middle line (actually the sma) may rarely match with oversold/overbought RSI. FT's suggestion seems to be more like a contrary trade where candle outside lower BB is one of the qualifications of long trade.

 

[vinst]

some similarity I find here:

http://www.fxfisherman.com/forums/f...ystems/7460-best-trading-system-intraday.html

FT has given method with suitable parameters for NF and BNF, thanks !

 

[FanaticTrader]

I guess using Bollinger bands of 20,2 setting is unique only to John Bollinger and not to any one subsequently. Since John B has made its status like a text book article, it now belongs equally to everyone .

Since effort here to pick up reversal trades and hence the setting used are (20,2). We can definitely opt for different parameters such as (12,2) or (10,1) to identify low volatility periods and play for explosive moves.

 

[vinst]

Since effort here to pick up reversal trades and hence the setting used are (20,2). We can definitely opt for different parameters such as (12,2) or (10,1) to identify low volatility periods and play for explosive moves.

what are the OB/OS parameters for RSI 7 in your setup ?

 

[FanaticTrader]

what are the OB/OS parameters for RSI 7 in your setup ?

If I am trading 15 min TF, I look for standard OB/OS which is 70/30. However if I go to smaller TF such as 5 min I look for extreme zone values such as 80/20

 

[ayush2020]

If I am trading 15 min TF, I look for standard OB/OS which is 70/30. However if I go to smaller TF such as 5 min I look for extreme zone values such as 80/20

how to calculate that ATR value ???

 

[vinst]

nf near about to give bearish signal?

 

[timepass]

RSI is still OB and no negative crossover as yet. Stochs are back in neutral after spending 5 bars in OB zone. If stochs move back upwards, it'll be a good upmove.