Bollinger Bands is an indicator that measures volatility. This indicator sends Trade Signals when the current price hits the top or bottom band. For instance, if the current price hits the top band, this indicator will generate a sell trade signals. Conversely, if the current price hits the lower band, this indicator will generate a buy trade signal. You can adjust the bands by changing the deviation values.
- Exchange Website to monitor
- Currency Pair to monitor for trade signals
- Update Speed
- Trade Signals
- Number of candles (or time periods) before an action is taken.
- Dev Up
- Standard deviation above the middle band.
- Dev Down
- Standard deviation below the middle band.
This Indicator can be used with higher time intervals (such as 2, 4, 6, and 12 hours) as it will provide very solid trade signals. It is not recommended to use this indicator alone on shorter time periods, but it can be paired with other indicators to confirm smaller trends.