NF:
The picture above shows 1) Bollingerworm for today (standalone) and 2) Bollingerworm for today as continued from the previous session.
How to draw Bollingerworm :
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 OUTER of BB(20,1) and INNER band
BB(20,2) then ride the trend .
7.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.
8.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).
9.If the trade goes against you and if the divisions on Y-axis is not more
than 10,in that case you can add ONE or TWO trades,atleast 5 points apart.
(Or as per the volatility on that day).
The picture above shows 1) Bollingerworm for today (standalone) and 2) Bollingerworm for today as continued from the previous session.
How to draw Bollingerworm :
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 OUTER of BB(20,1) and INNER band
BB(20,2) then ride the trend .
7.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.
8.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).
9.If the trade goes against you and if the divisions on Y-axis is not more
than 10,in that case you can add ONE or TWO trades,atleast 5 points apart.
(Or as per the volatility on that day).
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