BollingerBands

[Pradeep Narayan]

I agree... Syndicate Bank does not follow the rule. You are also correct on the Buy entry- Buy above 21EMA upon bullish crossover, the first exit is at 70 SMA - that is what is happening at Syndicate Bank. Now you need to wait for the 70 SMA crossover by the 21EMA for further long.

I am still developing this system - so you may not find it very optimal. But it works for me.. please contribute your learning as well so that all of us are benefited.

 

[columbus]

Nifty upto 7.11.14

 

[ankit3066]

Columbus Sir, i am watching TATASTEEL on 3min and 5 min time frame, and i have some queries regarding when to make "Entries" .

If we look at (A) Green+Red piercing has taken place indicating SHORT. As per the rules we need to wait for red candle to close below the green candle , correct ??

Here, the red candle closes within the body of piercing green candle.

So , do i need to wait for more candles to form below the Green piercing candle and take entry at (B) ? or directly short after the 1st red candle is completed.???

But again if i enter at (B) , we see that there is some upward movement and then prices take a dive.If i'd have entered here , i would have exited very quickly thinking prices are going up....

Please guide how to tackle such a situation...


Similarly, Red+green candles have pierced the bottom band indicating LONG. Again , here do i need to enter immediately after the 1st green candle is complete OR after the 2nd green candle??

 

[columbus]

Columbus , i am watching TATASTEEL on 3min and 5 min time frame, and i have some queries regarding when to make "Entries" .

If we look at (A) Green+Red piercing has taken place indicating SHORT. As per the rules we need to wait for red candle to close below the green candle , correct ??

Here, the red candle closes within the body of piercing green candle.

So , do i need to wait for more candles to form below the Green piercing candle and take entry at (B) ? or directly short after the 1st red candle is completed.???

But again if i enter at (B) , we see that there is some upward movement and then prices take a dive.If i'd have entered here , i would have exited very quickly thinking prices are going up....

Please guide how to tackle such a situation...


Similarly, Red+green candles have pierced the bottom band indicating LONG. Again , here do i need to enter immediately after the 1st green candle is complete OR after the 2nd green candle??

Hi ankit3066,

To be frank with you ,I don't MUCH importance to length candles ,when
they are approaching BANDS.

Pair of candles Green+Red.....on Top band.......Short or Sell
Pair of candles Red+Green.....on Lower band ......Buy.

On 5 min TF, the pair was at 482, but it went on to 484. On 3 min TF ,it was at 483.50.

So put a sell/buy order ,a few notches outside the bands will help.

So it is strongly recommended to have 2 different TF.

On 5 min TF ,the BUY order falls on middle line ,where as in 3min TF it fell on bottom
band.

It surprised me to see Last candles were RED on 3min TF ,where as on 5min TF last candle was green.
Later I saw your System time ,it was 14.22 and 14.29.

 

[timepass]

Hi ankit3066,

To be frank with you ,I don't MUCH importance to length candles ,when
they are approaching BANDS.

Pair of candles Green+Red.....on Top band.......Short or Sell
Pair of candles Red+Green.....on Lower band ......Buy.

On 5 min TF, the pair was at 482, but it went on to 484. On 3 min TF ,it was at 483.50.

So put a sell/buy order ,a few notches outside the bands will help.

So it is strongly recommended to have 2 different TF.

On 5 min TF ,the BUY order falls on middle line ,where as in 3min TF it fell on bottom
band.

It surprised me to see Last candles were RED on 3min TF ,where as on 5min TF last candle was green.
Later I saw your System time ,it was 14.22 and 14.29.

I would rather go for the safer side, sell the low of the green bar that pierced the upper band and vice versa for the shorts. By that time the price action may also confirm whether it's going to be a trending run or rangebound. Today, it looks like rangebound, that M after the upmove.

 

[ankit3066]

Columbus sir, thanks for the explanation. Now what i'll do is keep the charts open on both time frames 3min and 5min. And will use 5 min for entries , coz it provides better results.

And yes in the charts the system time is different , coz i first took a snapshot of 3 min chart , did the necessary markings and then i went on to 5 min chart.

 

[timepass]

Columbus sir, thanks for the explanation. Now what i'll do is keep the charts open on both time frames 3min and 5min. And will use 5 min for entries , coz it provides better results.

And yes in the charts the system time is different , coz i first took a snapshot of 3 min chart , did the necessary markings and then i went on to 5 min chart.

In one of Columbus's threads, he has used 2 BB - BB(22,2) and BB(22,1). That also seems a pretty good strategy. At least worth looking at.

 

[columbus]

In one of Columbus's threads, he has used 2 BB - BB(22,2) and BB(22,1). That also seems a pretty good strategy. At least worth looking at.

Apart from this,3D-BB is also ,good strategy.But somehow ,it did not catch as much as
attention as my previous threads.No regrets.I found all strategies by experiments and
necessities.I post data in all threads on regular weekly basis.

Why 3-D bollinger band?

I observed on thing that I am booking profit early.So I introduced different series of bands at BB(25,2.5),
BB(24,2.4),BB(23,2.3),BB(22,2.2).............etc.At any cost one should liquidate positions at BB(25,2.5).
Similarly one should BUY at any cost at BB(25,2.5) .

 

[timepass]

Apart from this,3D-BB is also ,good strategy.But somehow ,it did not catch as much as
attention as my previous threads.No regrets.I found all strategies by experiments and
necessities.I post data in all threads on regular weekly basis.

I observed on thing that I am booking profit early.So I introduced different series of bands at BB(25,2.5),
BB(24,2.4),BB(23,2.3),BB(22,2.2).............etc.At any cost one should liquidate at BB(25,2.5).
Similarly one should BUY at any cost at BB(25,2.5) .

Is that on 3/5 min TF ??

 

[columbus]

Is that on 3/5 min TF ??

It is always preferable to have 2 Time Frames. Because we do not know before hand whether
it will be Strong Day,Normal day,Choppy day or Flat day.