BollingerWorm !!!
- Thread starter columbus
- Start date
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!
1&2.Let me put it in a very crude way.You look for "V" shape below SMA-20
for LONGS and "Inverted V" shape above SMA-20 for SHORTS.
3.The only criterion is the frame should be Square.Size does not matter.
It can be as small as 8cm*8cm or as big as your screen permits.
Columbus,
But.. looking for a V shape or inverted V shape is not there in the original set of
rules, no? This will be purely subjective and when to enter or exit becomes arbitrary.
My third question was also not answered. The drawing of Yellow/Red lines - are you
doing it for better illustration, or is there a method to draw them during the live setup also?
Thanks..
But.. looking for a V shape or inverted V shape is not there in the original set of
rules, no? This will be purely subjective and when to enter or exit becomes arbitrary.
My third question was also not answered. The drawing of Yellow/Red lines - are you
doing it for better illustration, or is there a method to draw them during the live setup also?
Thanks..
MurthyAVR,
Your chart contains 3 compoments.
1.Previous day samples
2.Gap up
3.Current day samples
An Intraday trader looks for current day samples only.
From your chart less than 50% on y-axis is allotted the current day samples.
Basically BOLLINGERWORM is intraday technique.Intraday player looks for volatility
but Positional trader looks for gapup/gapdown.
There is nothing harm in using ,previous day samples,to some extent.
The first Bolliger sample is obtained at 1015hrs on 3 min TF.(0915+20*3)
So after 1015 it is advisable to use CURRENT day samples only.
If you can the day's intraday chart and draw LONG and SHORT arrows, they are
bound to coincide with mine.
I drew RED arrow to draw attention only and it was SHORT in nature.
Basically "V" shape and "Inverted V" shape is just Crude way of representation
,it helps in better interpretation.By the way you can see the usefulness in
the chart of today ,i.e SEP-28.
Your chart contains 3 compoments.
1.Previous day samples
2.Gap up
3.Current day samples
An Intraday trader looks for current day samples only.
From your chart less than 50% on y-axis is allotted the current day samples.
Basically BOLLINGERWORM is intraday technique.Intraday player looks for volatility
but Positional trader looks for gapup/gapdown.
There is nothing harm in using ,previous day samples,to some extent.
The first Bolliger sample is obtained at 1015hrs on 3 min TF.(0915+20*3)
So after 1015 it is advisable to use CURRENT day samples only.
If you can the day's intraday chart and draw LONG and SHORT arrows, they are
bound to coincide with mine.
I drew RED arrow to draw attention only and it was SHORT in nature.
Basically "V" shape and "Inverted V" shape is just Crude way of representation
,it helps in better interpretation.By the way you can see the usefulness in
the chart of today ,i.e SEP-28.
Last edited:
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).
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).
@Nazim,
Yesterday I faced problems with New Laptop ,so posting TODAY
BollingerWorm from old laptop.
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).
@Nazim,
Yesterday I faced problems with New Laptop ,so posting TODAY
BollingerWorm from old laptop.
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).