One of the biggest problems with the Bollinger Band indicator is that it is slow to respond to rapid changes in the market. Once there has been a spike in the market, the bands often severely widen too much to be useful to any trader, and take a long time to come back together to a meaningful level.
Now with the ResettingBB indicator, once the price reaches a particular standard deviation level, the indicator resets its calculation accordingly.
So now you can easily have a 2.0 standard deviation band that will reset whenever the price reaches something more extreme like 3.0 standard deviations.
The following are inputs available in the application:
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This indicator is only compatible with FXCM’s Trading Station Desktop. Additionally, an FXCM account is required (including free FXCM demo accounts).
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