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lavishlife
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September 15, 2018, 07:28:28 AM
 #1

I am using Bollinger Bands in my trades, but I have only used it for a couple of days,
so I can't say that using it is very effective, so my question is, bollinger bands only use
is providing support and resistance? or is there other ways I can use bollinger bands in my trades?
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butka
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September 15, 2018, 07:48:23 AM
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I don't use this indicator, but from what I can tell, clever traders use Bollinger bands usually when the market doesn't have a clear trend and the price goes sideways. Whatever you use it for, don't use it alone - it can deliver fake signals, so use it in combination with other indicators. For traders that use Bollinger bands a good person to follow is John Bollinger (@bbands) on twitter.
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September 15, 2018, 01:48:34 PM
 #3

Whatever you use it for, don't use it alone - it can deliver fake signals, so use it in combination with other indicators. [/url].


That's a good advice. Always combine multiple technical analysis techniques. I like cointelegraph technical analysis, he always shows interesting ideas.

Traders can make good money in crypto, because of its high volatility.

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September 15, 2018, 03:36:06 PM
 #4

Why not swing by our Discord; Voodoo crypto, and learn about the Depth chart day trading?  We've got some good traders in there that are making pretty good profits!
Voodoo Crypto Depth Chart trading

You can check out this thread for some good conversation about this group as well!

https://bitcointalk.org/index.php?topic=5026969.0

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September 15, 2018, 03:47:05 PM
 #5

Bollinger bands are a measure of volatility and the movement of moving averages. While this is mostly useful to offer buy/sell signals and showing resistance/support levels it's not entirely what it's designed for. They can be used in conjuction with other TA to signal buy or sell opportunities.

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September 15, 2018, 05:24:25 PM
Last edit: September 15, 2018, 05:43:18 PM by Gozie51
 #6

Bollinger band is good, giving support and resistance, also showing when market price is at it highest and lowest but it is a lagging kind of technical indicators. It follows behind the market, a combination of bollinger and some other indicators plus the reading of candles will be helpful.

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September 15, 2018, 10:57:47 PM
 #7

I am using Bollinger Bands in my trades, but I have only used it for a couple of days,
so I can't say that using it is very effective, so my question is, bollinger bands only use
is providing support and resistance? or is there other ways I can use bollinger bands in my trades?

The upper and lower bands are deviation-based support and resistance. The middle band (on default settings) is the 20-period moving average. After bouncing off support or resistance a couple times, price often returns there.

The main way I use Bollinger Bands is as a volatility indicator. When bands are very tight, price is coiling for a breakout. We call it a "squeeze." During those times, breaking and holding above or below the bands is a sign of a breakout. Some people just use BB width as an indicator for squeezing, and they don't bother with the actual bands.

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September 16, 2018, 12:25:22 AM
 #8

I think if we use only bollinger bands it can't no be effective usually I always with another indicator like MACD and RSI. Yes we can use to make support and resistance lines but if i always use the bottom and top lines of BB to entry or out market or to see if market breakdown or not.
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September 16, 2018, 01:48:25 AM
 #9

in my opinion, using bollinger is also very effective in trading, because it can also make way for more profits.
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September 16, 2018, 09:10:11 AM
 #10

Bolinger Band is one of the indicator that use to know support and resistance level  and this indicator will work better when the market on sideaway but in bull or bear market will be not work well. So is better to use Bolinger Band is side away and use others indicator like MA and trenline when the market on trending.

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September 16, 2018, 09:33:31 AM
 #11

I am using Bollinger Bands in my trades, but I have only used it for a couple of days,
so I can't say that using it is very effective, so my question is, bollinger bands only use
is providing support and resistance? or is there other ways I can use bollinger bands in my trades?

Really depends on the system you use. It can be effective in some system and also in some trades but there's no single indicator that's effective for all. So you should always weigh and test your system. Remember to start as simple as possible.


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maxreish
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September 16, 2018, 02:08:52 PM
 #12

It is also good for a sign of entry and exit in bollinger band indicator. Don't you wanna try some indicators like awesome oscillator, rvgi or simply vma? Sometimes, bollinger bands are misleading but i can tell that using it along when trading some altcoins with this indicator is still useful and profitable.

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September 17, 2018, 12:03:21 AM
 #13

I am using Bollinger Bands in my trades, but I have only used it for a couple of days,
so I can't say that using it is very effective, so my question is, bollinger bands only use
is providing support and resistance? or is there other ways I can use bollinger bands in my trades?

The upper and lower bands are deviation-based support and resistance. The middle band (on default settings) is the 20-period moving average. After bouncing off support or resistance a couple times, price often returns there.

The main way I use Bollinger Bands is as a volatility indicator. When bands are very tight, price is coiling for a breakout. We call it a "squeeze." During those times, breaking and holding above or below the bands is a sign of a breakout. Some people just use BB width as an indicator for squeezing, and they don't bother with the actual bands.

Squeeze is a very effective sign of breakout

Use it along with other indicators like rsi, rvgi, macd, volumes for confirmations and look for trend lines

BB shouldn't be relied on itself same with other indicators

Treat them as one of your signals and always look for confirmations

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September 17, 2018, 12:28:04 AM
 #14

In my opinion price pattern and candlestick pattern is more accurate than bolinger band,  in bull market  bolinger band will be not really usefull because the price possible going up to 7 -10 times just in amonth. Bolinger band can be more usefull for day trading but for swing trading is better use others indicator like MA and RSI. 

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September 17, 2018, 02:21:59 AM
 #15

I use B.B. for scalping, the only effective information it gives to me is if I am buying too high or if I am selling too low.

Works like this:

If you want to buy, do it when the price is close to the lower line, if the price is close to the higher line you should not trade, means that you lost the entry. It’s previne you to take bad positioning on trades.
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September 18, 2018, 12:16:29 PM
 #16

I don't use this indicator, but from what I can tell, clever traders use Bollinger bands usually when the market doesn't have a clear trend and the price goes sideways. Whatever you use it for, don't use it alone - it can deliver fake signals, so use it in combination with other indicators. For traders that use Bollinger bands a good person to follow is John Bollinger (@bbands) on twitter.

Yay, thanks for this advice, I will just keep on combining them. My friend mentioned the Bollinger bands but he never said that I should combine it with others, just said that it was reliable and I should use it. But you’re very right, it might not give accurate signals sometimes, so it’s best to be combining them so that we don’t make mistake and put the wrong trade.
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September 18, 2018, 12:52:57 PM
 #17

I have never really been a very strong lover of Bollinger bands as I always believe there are better indicators that can do a better job. To me, it just makes the chart look so clumsy for my liking. I still prefer the use of the simple moving average 20 directly as well as 50 for trends, coupled with momentum indicators such as Stoch RSI for the market condition at certain point in time while using price action at this points to detect a price reversal. The best thing is to never use a single indicator to judge the market movement and use other ones to support your decision. Maybe there are other ways to use BB, but it ain't it for me.
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September 18, 2018, 01:48:28 PM
 #18

Best to use in combination with other indicators. This tool might help you bitcoin technical analysis
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October 15, 2018, 07:06:37 PM
 #19

I am using Bollinger Bands in my trades, but I have only used it for a couple of days,
so I can't say that using it is very effective, so my question is, bollinger bands only use
is providing support and resistance? or is there other ways I can use bollinger bands in my trades?

I have been using these bands for over a year now, I want to tell you that it’s worth it
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October 15, 2018, 07:26:36 PM
 #20

I am using Bollinger Bands in my trades, but I have only used it for a couple of days,
so I can't say that using it is very effective, so my question is, bollinger bands only use
is providing support and resistance? or is there other ways I can use bollinger bands in my trades?

I have been using these bands for over a year now, I want to tell you that it’s worth it
Bollinger bands with moving averages and with RSI/MACD then these 3 technical indicators would really be helpful when it comes to trading.Results might not be precise on each calculation or analysis but it would be much more better than no having technical analysis at all.Even we know that this market is way too speculative where it can anytime break out TA and Funda at the same time.
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