How are you?
How is it going with Hulk Smash Scanner? I hope you generate some profits...
Today I want to show you a tool, which will help you decide whether to enter a trade, based on an alert from the Hulk Scanner.
This tool will serve as a filter to help you decide how strong the alerts from the scanner are.
In the future, I plan to insert it in a structured format for the scanner.
This tool is the good old basic Bollinger bands’ indicator.
So what is the Bollinger Bands indicator?
It is a tool created by John Bollinger (born 1950)
This tool examines the standard deviations in the market in order to detect situations of anomalies that increase the probability of the trend reversal. The Bollinger Bands are a technical analysis tool defined by a set of lines plotted two standard deviations (positively and negatively) away from a simple moving average (along with the last 20 time units) of the asset’s price.
And what does it look like?
The basic strategy with the Bollinger Bands tells that when the Japanese candlestick breaks the upper band, the following candlesticks will go down, returning towards the moving average – and vice versa with the lower band.
With this tool, we can be more accurate in entering trades.
When we receive an alert from the Hulk Scanner, we will enter only trades with a high probability of success and by ignoring the other alerts, we will be more profitable.
How to put the Bollinger Bands indicator on a chart?
Press insert -> indcators -> Trend -> bolinger bands