FX Technical analysis
The new BB indicators cover most of the traditional technical analysis tasks. Below is a list and what they do:
• %b - Where are we in relation to the Bollinger Bands? • BBImpulse - How is price changing in relation to the Bollinger Bands? • BBMomentum - What is the momentum of price in relation to the Bollinger Bands? • BandWidth - How wide are the Bollinger Bands? •%BandWidth - How wide are the Bollinger Bands in relation to history? • BandWidth Delta - How is BandWidth changing? • B B Tr e nd - Are prices trending
or consolidating?
FXTM: How expert should a trader be in the fields of technical analysis and the use of the Bollinger Bands in order to use your new indicators properly?
JB: I think that emotions are the trader’s greatest enemy. Technical analysis
60 FX TRADER MAGAZINE April - June 2014
and robust trading systems are a way to minimize the impact of emotions in the trading process. But like any skill
technical analysis has
learned and practiced. Te more knowledge and experience you bring to the table, the better your chance of success.
to be
technical analysis like Martin Pring, Jay Schabacher, Robert Edwards and John Magee to get a sound foundation for technical analysis in general, which will also build the foundation for using Bollinger Bands.
FXTM: Did the creation of the new tools come from your own trading experience and the process of f in e - t u n ing the use of the volatility bands? or did it come from traders’ specific needs or feedback about the use of the Bollinger Bands?
The goal was to create a full suite of logically-consistent, fully-adaptive, state- of-the-art, technical-analysis tools derived from the Bollinger Bands.
FXTM: Do you recommend a specific training to new traders before using the Bollinger Bands and the new toolkit?
JB: I recommend reading the classics of
JB: It came from feedback. I saw some very in t e r e st ing things being done with Bollinger Bands and that sparked the idea that there could be
a Bollinger Band derived tool in each category of TA providing a comprehensive and consistent set of tools.
FXTM: Do you use both the bands and the
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