Hi timepass,
The words "pierce","Graze" ,etc ,do not appear in BollingerWorm but do appear
in Bollinger bands.BB generally deal with 'Individual candle' ,but BW deals with
group of candles because ,it deals envelope which are drawn 'below' and 'above'
of each candle.Here we discuss about proximity of envelope with respect to BANDS.
I feel the problems are better addressed in BOLLINGER WORM.
We always treat the lower band as SUPPORT and top bands as RESISTANCE.
So we place always a BUY on Lower band and either SELL/SHORTSELL on top band.
As per theory, 95% of the samples are found within the BANDS and just 5% falls
outside the bands. We watch at these 95% and take action ,accordingly,at other 5%.
[BB (20,2).]
The first BUY signal came at around 11.50 (5 candles prior mentioned by your arrow).
Piece of advice:
In tradetiger one can add 8 studies.You used only one study.[bb(20,2)]
You can add bb(20,1) and S-20.For thicker bands you can use bb(20,2.01)
bb(20,2.02),bb(20,2.03)...........If you think they are bothersome ,you can hide.