• Registered: 2010-02-27
  • Posts: 6

Topic: Bollinger Band outer band price tag as entry signal?

Is it possible with the Forex Strategy Builder to use an outer band on a Bollinger Band as a signal for trade entry (or exit) when price tags or penetrates it?

  • Registered: 2010-02-27
  • Posts: 6

Re: Bollinger Band outer band price tag as entry signal?

Is there a better place to ask this question?

Thank you for any assistance. smile

  • Popov
  • Lead Developer
  • Offline
  • From: Bulgaria
  • Registered: 2006-11-30
  • Posts: 1,029

Re: Bollinger Band outer band price tag as entry signal?

Hi Smithid, please explain what an "outer band" means.

  • Registered: 2010-02-27
  • Posts: 6

Re: Bollinger Band outer band price tag as entry signal?

The Bollinger Band indicator has three bands: an upper, a middle, and a lower. 

When I write "outer band" I am referring to either the upper band or lower band. 

http://www.bollingerbands.com/ has a chart example of the three bands.

  • Popov
  • Lead Developer
  • Offline
  • From: Bulgaria
  • Registered: 2006-11-30
  • Posts: 1,029

Re: Bollinger Band outer band price tag as entry signal?

Set BB in the "Opening Point of the Position" slot.
If you want to enter long at the upper band and respectively, enter short at the lower band, chose the "Enter long at the upper band" logic rule.

  • Registered: 2010-02-27
  • Posts: 6

Re: Bollinger Band outer band price tag as entry signal?

Excellent!

Thank you!