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Hi,
For those of you who like to trade straddles/strangles with options
one pattern that works well, is when the Bollinger Bands start
squeezing together.
Have Fun with the Squeeze :- )))
To find the Bollinger Band Squeeze with Metastock create the 2
indicators below:
BollingerBandHistogram
X:= ((C+2*Std(C,13)-Mov(C,13,E))/(4*(Std(C,13)))*100);
Blue:=If(X>80,X,0);
Red:=If(X<80,X,0);
Blue; Red;
BB Squeeze
If(Fml("BollingerBandHistogram")>45AND Fml("BollingerBandHistogram")
<55,1,0)
Then create the below in your Explorer.
Straddles/Strangles
EXPLORATION NOTES
-----------------
Finds Stocks that have the Bollinger Bands Squeezing Together
CALCULATION PARAMETERS
-----------------------
Periodicity: Daily
COLUMN FORMULAS
---------------
ColumnA: Close
CLOSE
ColumnB: Squeeze
Fml("BB Squeeze")
ColumnC: 2DaySQ
If(Fml("BB Squeeze") AND Ref(Fml("BB Squeeze"),-1)=1,1,0)
ColumnD: 3DaySQ
If(Fml("BB Squeeze") AND Ref(Fml("BB Squeeze"),-3)=1,1,0)
ColumnE: 5DaySQ
If(Fml("BB Squeeze") AND Ref(Fml("BB Squeeze"),-5)=1,1,0)
ColumnF: 8DaySQ
If(Fml("BB Squeeze") AND Ref(Fml("BB Squeeze"),-8 )=1,1,0)
FILTER SOURCE
-------------
Filter Enabled: Yes
Formula:
colA>20 AND (colB=1 OR colC=1 OR colD=1 OR colE=1 OR colF=1)
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