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[sbenard]

I use BBands, combined with an 8-period EMA and a volume indicator that was developed by a fellow trader who happens to be an MD. He named it after Stephen Klinger. It is programmed for Tradestation, but if anyone had the skills to rewrite it for Metatrader or other software, I would be happy to provide the code. It is no secret! This volume indicator is the finest leading indicator I've ever seen, almost always turning shortly before the market reverses. I use the BBands for dynamic support/resistance, and the combination of EMA and volume indicators to tell me when to reverse directions.

BTW -- I used to trade Forex. Now, I trade futures instead. Tighter spreads, advantage of trading through an exchange rather than a rogue broker!

[sbenard]

TIP:

IMHO, the finest book ever written about Bollinger Bands was written by Phillipe Cahen. He wrote one in English, but the most recent one -- the best one -- was written only in French. It is called "Analyse Tecnique et Volatilite". The older English one was good, but the newer one is even better. I spent 8 weeks translating it into English. It was worth it!

[miskec]

Where can we get our hands on the translated version of the book?

[bobbhim]

Originally Posted by siis

Dear:

sorry, what's 2 or 3 std deviation (less 20 Days) ?

thanks ~

Go to bollinger bands properties. In parameters you will see PERIOD=20
Deviations=2
Change this number to 3 and click "ok' Your chart will now have two bands. Change the colour of the second band. In rapidly trending market action the second band comes in very useful.

[bobbhim]

Originally Posted by sbenard

I use BBands, combined with an 8-period EMA and a volume indicator that was developed by a fellow trader who happens to be an MD. He named it after Stephen Klinger. It is programmed for Tradestation, but if anyone had the skills to rewrite it for Metatrader or other software, I would be happy to provide the code. It is no secret! This volume indicator is the finest leading indicator I've ever seen, almost always turning shortly before the market reverses. I use the BBands for dynamic support/resistance, and the combination of EMA and volume indicators to tell me when to reverse directions.

BTW -- I used to trade Forex. Now, I trade futures instead. Tighter spreads, advantage of trading through an exchange rather than a rogue broker!

I hope someone here or elsewhere in metatrader land could convert this code from Tradestation. Volume is a very seldom used tool in trading and it is one of the most useful. Thank you for bringing this up in this forum. Any programmers out there?

[scguy]

Originally Posted by ginx10k

Try to Use the Bollinger Bands combined with a Stochastic RSI. And Check A couple of practice trades, then tell me that you Don't believe in them. The signals are really Strong.

Strategy Overview:

When price reaches the Upperband, and Stochastic is crossing from above 80 back down, go Short.

Do the opposite for going LONG.

ginx10k, if you still trade using this strategy, what chart time frame do you prefer (1hr, 1day, 5min)?

[pinalli]

I think 1 hour chart would be better option!

[bobbhim]

Originally Posted by pinalli

I think 1 hour chart would be better option!

Indeed the minimum time frame for me is 15 mins but I do agree 1 hr is superior. In the final analysis it depends on your trading strategy. I am mostly on the long term charts, hence 1 hr suits my style.

[nawafasad1]

bollingar bands are essential in my trading as i trade reversals or even to go with the trend on a basic 123 breakout if you add any other indicators they will be a good confirmation and as any one knows market goes up and down higer and lower bads will be a good place to enter on confimation of a reversal candle for example and with the direction of say s.s. you ve got a winner on 5,15 min intraday

[bobbhim]

I am glad to see believers in this system. I use it in quiet market times to kinda scalp. The use of reversal candles is really good stuff. I wish someone here was a programmer to convert the volume code from tradestation to mt4(see post by sbenard)

[sbenard]

Sorry it has taken me so long to get back to this thread. Needless to say, I spend very little time in trading forums.

You can acquire the English translation of the Cahen book here for now:

4shared - free file sharing and storage - share folder - Tech Analysis

The four documents in the folder are all related to Cahen's method, which he calls Dynamic Technical analysis. His method is by far the most advanced, detailed, and complete trading method I'm familiar with. His book is 200+ pages, and the entirety deals with ONLY this trading method. Very sophisticated and detailed!

The four docs in the folder are these':
1) Technical Analysis and Volatility - my English rendition of Cahen's book. I apologize in advance that it isn't a better translation, but as my Mom always said: "Beggars can't be choosers!"
2) ATDMF (french for DTA) abbreviations, definitions, charts - these are from a french website (also translated into English) dedicated solely to Cahen's method. These include great charts, examples, and explanations of many of the terms Cahen uses.
3) PRO-AT forum -- more odds and ends from this same forum, with more charts and examples. Many of these were written by advanced practitioners of the DTA method. Good stuff!
4) DTA notes - my own abbreviated notes related to the DTA method.

I still use Bollinger Bands, but I use them primarily for a measurement of volatility and DYNAMIC support and resistance. I also use the Exponential Moving Average and the previously-mentioned volume indicator.

If anyone knows of a way to translate the Tradestation code for this volume indicator into one that can be used in Metatrader, I would be happy to provide/post the Tradstation code. That way, everyone would benefit -- me included!

Best wishes. Happy trading, friends!

[sbenard]

P.S. Somewhere, someone mentioned that there is a place where Tradestation code can be posted that other users can change into other code. However, I lost the link. Thus, I know such places and people exist, but I don't know how to find them. Any super sleuths out there that might know of such websites, forums, or people?

[MikeFile]

Originally Posted by pinalli

funny.....

BB bands are famous for being famous nothing more imo.