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I have not written a exploration or test for this however, there are a
few examples of stocks that are out side their top bollinger band and
still going strong ( not that I would buy int them at this point), but a
pullback into the upper band of the biollinger bands may indicate a
buying opportunity rather than selling. TFONY , CSCO,CPQ,LU are in a
strong uptrend.
I generally just use bollinger bands to keep from buying when a security
is outside the top bolinger band. Personally I wouldn't suggest a
trading system based solely on bollinger bands. I don't think the
inventor John Bollinger does either, he had been interviewed in TASC not
to long ago and he suggested looking at groups first( w/o out using the
bands) and then individual securities with in that group.
Another good indicator can be to use the bolinger bands with a 20 week
period. In this case the security may be outside the upper daily bolinger
bands and the upper band of the 20 week average may indicate an upside
target.
ramble , ramble my 2 cents. Good Luck ! JB
On Sat, 12 Jul 1997 09:39:36 -0400 michael.arnoldi@xxxxxxxx writes:
>has anyone written an exploration for "bollinger bands" ie.
>when the first high is above the band and subsequent high doesn't
>make it above the band- therefore generating a sell (opposite for buy)
>?
>any help would be welcome.
>
>mike
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