Manster21

Bollinger Band Reversal Study

This strategy was inspired by ParallaxFX.

This strategy attempts to predict when a price reversal will happen. It uses bollinger bands , stochastics and candle formations.
The idea is that when an indecision candle, such as a doji , crosses outside the bollinger bands , then is followed by another candle that pushed sharply back inside the bands, you have a setup.
These setups are marked with green arrows to go long and red arrows to go short. Wait until the next candle begins before acting. The arrow may come and go as the price fluctuates, so wait until the candle closes.
Another play is when the same setup occurs, but on the middle bollinger band instead of the outer band.
These setups are marked with blue arrows to go long and yellow arrows to go short. Wait until the next candle begins before acting. The arrow may come and go as the price fluctuates, so wait until the candle closes.

Closing can happen a number of ways. You can use a predetermined risk-reward or look to sell when the price reaches another band.

In summary.

Go long when a green or blue arrow appears.
Go Short when a red or yellow arrow appears.
Green arrows show signs of reversal from lower BB.
Blue arrows show signs of reversal from middle BB.
Red arrows show signs of reversal from upper BB.
Yellow arrows show signs of reversal from middle BB.
Wait for candle with arrow to close before taking trade.
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I came from reddit. Thank you for sharing this
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@glmigu, You're welcome!
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