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Bollinger
Bands are lines plotted in and around the price structure to form
an "envelope." It is the action of prices near the edges
of the envelope. Bollinger
Bands are based upon a simple moving average. This is because a
simple moving average is used in the standard deviation calculation
. John Bollinger developed the technique of using moving averages with
two trading bands.
The
indicator consists of three bands designed to encompass the majority
of an instrument's price action.
Bollinger
recommends using a 20-period simple moving average for the center
band and 2 standard deviations for the outer bands. The length of
the moving average and number of deviations can be adjusted to better
suit individual preferences and specific characteristics of an instrument.
Usage: Bollinger
Bands are an indicator that allow comparing volatility and relative
price levels over a period. It can be combined with price action
to generate signals and foreshadow significant moves.
It
serves many functions:
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