BollingerWorm !!!
- Thread starter columbus
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Which were today's long indicators?,
And today there were few shorts, but was not a success or with few points right ?
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1.Use standard Bollinger Bands ,that is, bb(20,2).
2.Use ema2-HIGH and ema2-LOW to outline the body of the worm.
3.If the body comes out of bands & re-enters ,then make an ENTRY.
4.The EXIT is, if body comes out the other band and re-enters the body.
5.In case of extreme Bullishness/extreme Bearishness another
pair is used pertaining to BB(20,1) or just for guidance in normal case also.
6.If candles are sandwiched between UPPER bands BB(20,2) and BB (20,1)
ride the trend OR LOWER Bands of BB(20,2) and BB (20,1) ride the trend.
If either ema-2H or ema-2L is cut twice by either BB(20,2),BB(20,1) or
SMA-20 in quick succession ,it indicates a END of a trend.Continuation is
indicated if both ema-2H and ema-2L are cut by SMA-20 and/or BB(20,1)
and/or BB(20,2).
2.Use ema2-HIGH and ema2-LOW to outline the body of the worm.
3.If the body comes out of bands & re-enters ,then make an ENTRY.
4.The EXIT is, if body comes out the other band and re-enters the body.
5.In case of extreme Bullishness/extreme Bearishness another
pair is used pertaining to BB(20,1) or just for guidance in normal case also.
6.If candles are sandwiched between UPPER bands BB(20,2) and BB (20,1)
ride the trend OR LOWER Bands of BB(20,2) and BB (20,1) ride the trend.
If either ema-2H or ema-2L is cut twice by either BB(20,2),BB(20,1) or
SMA-20 in quick succession ,it indicates a END of a trend.Continuation is
indicated if both ema-2H and ema-2L are cut by SMA-20 and/or BB(20,1)
and/or BB(20,2).
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Which were today's long indicators?,
And today there were few shorts, but was not a success or with few points right ?
Long/Short entry/exit were marked.
At some places it so appears that we have deviated from our strategy ,
but on 3 min time frame it will look alright.That is the reason I strongly
recommend to have both 3min & 5min TF side by side.
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Columbus,
I am posting 3-min chart of Nifty Fut-1 for today.
As per the rules of Entry/Exit (ema-2L crossing BBBot(20,2) and ema-2H crossing BBTop(20,2) as the case be..)
I find only one opportunity for Long and several for Short.
Can you mark the Entry/Exit points on this chart, because I am sure I am missing something here..
I am posting 3-min chart of Nifty Fut-1 for today.
As per the rules of Entry/Exit (ema-2L crossing BBBot(20,2) and ema-2H crossing BBTop(20,2) as the case be..)
I find only one opportunity for Long and several for Short.
Can you mark the Entry/Exit points on this chart, because I am sure I am missing something here..
Hi murthyAVR,
Instead I changed the timeframe to 3min and placed entry/exit.They fairly
agree with 5min TF entry/exit.In fact 3 min & 5 min complement each other.
A rectangular frame induces a 'Stretch effect' and induces a false picture
to our eyes.That is why ,I prefer Square frame ,which gives very good
Depth (y-axis) picture.Always go for Square frame.
Instead I changed the timeframe to 3min and placed entry/exit.They fairly
agree with 5min TF entry/exit.In fact 3 min & 5 min complement each other.
A rectangular frame induces a 'Stretch effect' and induces a false picture
to our eyes.That is why ,I prefer Square frame ,which gives very good
Depth (y-axis) picture.Always go for Square frame.
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columbus you are very smart in making fool of people by drawing lines on eod charts.pls dont mind but its true.. Can u post intraday live charts with bollinger worm? Answer is no because everyone knows its easy to draw lines at eod.
Hi murthyAVR,
Instead I changed the timeframe to 3min and placed entry/exit.They fairly
agree with 5min TF entry/exit.In fact 3 min & 5 min complement each other.
A rectangular frame induces a 'Stretch effect' and induces a false picture
to our eyes.That is why ,I prefer Square frame ,which gives very good
Depth (y-axis) picture.Always go for Square frame.
Instead I changed the timeframe to 3min and placed entry/exit.They fairly
agree with 5min TF entry/exit.In fact 3 min & 5 min complement each other.
A rectangular frame induces a 'Stretch effect' and induces a false picture
to our eyes.That is why ,I prefer Square frame ,which gives very good
Depth (y-axis) picture.Always go for Square frame.
Thanks Columbus, for your quick reply.
In your chart, you have shown three Long trades and two Short trades. That's alright,
but as per which rule these trades have to be initiated?
1. Long
If the rule for going long is that ema-2L has to cross BBBot(20,2), then there was only
one possibility during the entire day.
2. Short
As per the original rule of ema-2H crossing the BBTop for a short signal, there were several
Short signals during the day, most of them might have hit the stoplosses. But in your chart,
you have shown two very good Short trades - but what were the parameters to get
those signals?
3. How do you draw these Yellow/Red lines during a live set-up?
Those were my precise questions in my above post. Hope I could explain my doubts clearly.
About the squarish format - what you said is perfectly true. But with so many lines on the
chart, the squarish format is looking so cluttered that most of the times, the focus of the
eye is not on the right thing but on the clutter itself!
In your chart, you have shown three Long trades and two Short trades. That's alright,
but as per which rule these trades have to be initiated?
1. Long
If the rule for going long is that ema-2L has to cross BBBot(20,2), then there was only
one possibility during the entire day.
2. Short
As per the original rule of ema-2H crossing the BBTop for a short signal, there were several
Short signals during the day, most of them might have hit the stoplosses. But in your chart,
you have shown two very good Short trades - but what were the parameters to get
those signals?
3. How do you draw these Yellow/Red lines during a live set-up?
Those were my precise questions in my above post. Hope I could explain my doubts clearly.
About the squarish format - what you said is perfectly true. But with so many lines on the
chart, the squarish format is looking so cluttered that most of the times, the focus of the
eye is not on the right thing but on the clutter itself!