Don't know where I came across it . It's not perfect or is it the Holy grail but I've had some luck with it. If I come across where I found it I will post it here.
SPY's bollinger %b 5,2 has been below the 0.2 line for 2 days now with a little upward movement Friday. Suggests Monday that the SPY might make a pop up.
But like with all indicators that nothing is full proof. Guess Monday will show us.
I am not a big fan of BB, but I find this interesting. I have added my 5 day low along with
your filter. It looks like it could give me some insight on some of my possible entries. I will
have to look at it after market open to see what it is telling me at that time. Or possibly
like the chart of SPY above, it could give me more confidence on getting into a weaker
open than I typically like.
Roger that on the your 5 day low filter as I use that on my filters also. I came across that Bollinger %B(5,2.0) indicator video along with your 5 day low filter.
You might add line at 0.2 on draw your draw Bollinger %B(5,2.0)
Seems TQQQ had the same effect today as SPY . Seems the Bollinger%b 5,2 give a precusor to trend. I'm not painting it to be a holy grail but I think it has some possibilities .
May 31st yours picked MSFT. That was a 5 day low for me. The next trading day, I got a signal
on the 5 day low scan. My entry, by my rules, would have been June 4th. However; open was below
the previous close, not above as my rules state. Therefore; I would never have gotten into this
good run.
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