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Bollinger bands can be used with some indicators to determine
threshold readings. However, Bollinger bands should not be used with
all indicators as a threshold ceiling. Indicator values, like prices,
will often walk up or down the band making the threshold impossible
to identify. Some indicators which make frequent turns at intervals
less than the expected threshold values are good candidates for
Bands. Keltner Bands can also be used, and unlike Bollinger Bands,
identify the trend.
JO
--- In Metastockusers@xxxxxxxxxxxxxxx, "metarockx" <k_rock@xxxx>
wrote:
> hi,
>
> I also tried in vain to resolve this with the means of Metastock
> formula language.
> The solution I use now is to overlay some indicators with Bollinger
> Bands. The default of 2 standard deviations used in Bollinger Bands
> means that statistically around 95% of the indicator values stay
> within the Bands.
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