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Bollinger Band Stop with RSI Filter is a trend following multi time frame strategy based on the Bollinger Band Stop indicator and RSI Filter. The first stop is when there is a trend change, the stop is set to the same as the opposite side bb. If you want trade 4h time frame, open daily chart and check the trend after open the 4H chart and trades in direction of the trend of daily chart. A pivot point analysis is often used in conjunction with calculating support and resistance levels, similar to a trend line analysis. Place a limit (take profit) order at the next level (if you bought at S2, your first target would be S1 … former support becomes resistance and vice versa).

Traders use an EMA, sometimes in concert with another EMA for a different period, to signal confirmation of a change in price behavior.
The EMA works well in tandem with another EMA in strong trending markets, but the use of an EMA in a sideways market is not recommended. Then it stays the same as the band as long as the band is going in the direction of the trend, but then when the bb changes direction, it stays level, just like any other trailing stop.
Its origins are unknown, but its use was designed to smooth out the effects of price volatility and create a clearer picture of changing price trends. Since the EMA is so popular, it can often form a support or resistance line, depending on the type of trend, that traders respect in their decision-making process.

Look at the first blue dot in your picture, the close of that bar is above the previous bars red line = trend change.

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11.04.2014 | Author: admin

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