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Forex Forum → Technical Indicators → bollinger bands

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Posts: 10

Topic: bollinger bands

So im using "enter long at the lower band" with the base price "close" and use previous bar value set to "unchecked".

How does this actually work with the 1 hour timeframe?

Does it wait till the current bar is closed to make its entry? Or is it as soon as it touches the lower band irrespective if the bar is not close it will enter a long position?

Re: bollinger bands

May I ask for what reason you have disabled previous bar value usage?

Re: bollinger bands

I want to enter the long in real time once a band is touched?

Re: bollinger bands

Unreliable backtest it is, not a real-time entry, no wonder you're waiting FSB trades to match FST's...

Re: bollinger bands

ok thank you..

6 (edited by angat 2012-10-20 11:07:21)

Re: bollinger bands

do you have to use "use previous bar value" to this indi to work correctly?

and same question for the moving average indi?

thanks

Re: bollinger bands

If base price is other than open, then yes, PBV has to be used! Better to leave previous bar usage in automatic mode.

Re: bollinger bands

last question on this, does RSI indi have to use the previous bar option too?

RSI Falls
Base Price - Open

thanks again.

Re: bollinger bands

No, if base price is open.

Re: bollinger bands

The point is that open prices are known every step of the way, other types like close, low, high can be verified only at bar closing, so previous values need to be used to have a reliable backtest, otherwise the indi "looks" into future and very profitable strats can be developed which in live trading turn into losers straight away because indi can't look into future anymore. Hope this clarifies the issue a bit.

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