Bollinger MTF
So this is a Bollinger resistance and support map, I just convert it to v4 and add info for current upper and lower levels
The length is 60 (instead of regular 20) and we make it to be MTF
Ok , so how this system work
we choose TF and I normaly use 3x or 4X of the MTF (you can choose your own)
then we need to decide if we want to long or short
if we go long then the buy point will be the lower value and TP will be TP in green -
If we go short then our entry value will be upper and TP (take profit) will be in red
so one can put few tweeks and make this system to be more automatic , but I just show this as a easy concept for trade system
the main issue in such system is properly to decide when to go short or when to go long
that why you need to add other indicators in order to make this call and make this system effective
The length is 60 (instead of regular 20) and we make it to be MTF
Ok , so how this system work
we choose TF and I normaly use 3x or 4X of the MTF (you can choose your own)
then we need to decide if we want to long or short
if we go long then the buy point will be the lower value and TP will be TP in green -
If we go short then our entry value will be upper and TP (take profit) will be in red
so one can put few tweeks and make this system to be more automatic , but I just show this as a easy concept for trade system
the main issue in such system is properly to decide when to go short or when to go long
that why you need to add other indicators in order to make this call and make this system effective