BullCharts discussion: Bollinger Band Squeeze

Bollinger Band Squeeze

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Category: BullCharts
Forum Name: BullCharts discussion
Forum Discription: General discussion about getting started with BullCharts and exploring its features.
URL: http://www.bullcharts.com.au/forum/forum_posts.asp?TID=457
Printed Date: 05 May 2024 at 1:44am
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Topic: Bollinger Band Squeeze

Posted By: thegrid
Subject: Bollinger Band Squeeze
Date Posted: 10 Feb 2008 at 3:15pm

Does Bullcharts have a scan to identify Bollinger Band Squeeze candidates.

See hyperlink for more on the Bollinger Band Squueze:

http://www.asx.com.au/resources/newsletters/investor_update/ 20070808_bollinger_band_squeezes.htm

Replies:

Posted By: jalna
Date Posted: 17 Feb 2008 at 6:06pm

Hi thegrid, You can write a scan that says
Bollinger Bandwidth is the lowest it has been over so X many days
Other than that i'm not sure what else

Posted By: maximo
Date Posted: 22 Feb 2008 at 5:00am

Jalna is right umm the Bollinger Bandwidth indicator shows the distance between the bands. eg. a scan of <0.065 would have picked up the squeezes (before the major moves) on BHP this year.

Good Trading

Posted By: thegrid
Date Posted: 22 Feb 2008 at 9:55am

Thanks for the responses

IS there a scan for flags?

Posted By: jalna
Date Posted: 22 Feb 2008 at 10:20am

thegrid, muck around and have fun.
I have one that picks up some but you can experiment with heaps of
different ideas.
Mine is "low is between high and low every bar for the last 4 bars"
You can make it 6 or whatever. You will find a lot of stock going along
sideways but there should be a few flags in there
cheers.

Posted By: thegrid
Date Posted: 22 Feb 2008 at 10:35am

Thanks Jalna

How successful in percentage terms are you're flags in succeeding?

Posted By: cudderbean
Date Posted: 26 Jan 2015 at 4:00pm

Not sure if you had a more recent reply than mine.

I coded this very crude scan for looking back on the lowest BB squeeze in 51 days.

The codes that it throws up, you can then sort by lowest squeeze etc.

{Variables}

bbw := formula("Bollinger Bandwidth", Close, Simple, 20, 2);

BBup := formula("Bollinger Bands", Close, Simple, 20, 2);

BBdn := formula("Bollinger Bands[3]", Close, Simple, 20, 2);

BBmid := formula("Bollinger Bands[2]", Close, Simple, 20, 2);

{Condition}

filter :=

bbw<hist(llv(bbw,50),1) {today is less than lowest bandwidth in 50 days}

and (BBup<=hist(BBup,1)) {Bands squeezing}

and (BBdn>=hist(BBdn,1));

filter;

{Columns}

[name="Bandwidth"; dp="3"] bbw;

Additional help please...

But this particular squeeze could be the lowest bandwidth in not 51 but 100 days or more!

What I would like to do but don't know how ..maybe someone can help is to additionally use a function such as barssince??? to tell me exactly how many days ago was there a BollBand squeeze that was even less than today's...and then list that number in the {Columns} results.

Maybe that would require a completely separate scan??

Thank you for your help.

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Posted By: cmacdon
Date Posted: 11 Mar 2015 at 3:55pm

I will post an indicator that should give you all the control you want over BB squeezes in the Bullscript section

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BC User since June 2007

Posted By: cudderbean
Date Posted: 16 Mar 2015 at 10:23pm

Thank you, cmacdon, for so generously sharing your Bollinger Band Squeeze indicator with us in the Bullscript sub forum. For other members, if the indicator does not at first appear as in cmacdon’s demonstration chart, do as he suggests...right click properties and turn on the features you want in the Style tab. I was like a kid in a lolly shop and just ploughed straight in without reading his full instructions J

When I get my head fully around all the features I will try to convert this into a scan for your “Bingo” BBsqueezes, and report back here with it for your scrutiny.

I am still curious to learn how I could scan for my original idea, since I have been in this situation before with other scans..i.e. how extreme is today’s whatever indicator eg. A candlestick pattern such as Big White Tower..how big is todays BWT compared with previous examples for that share.

Anyway, back to Boll Bands. How could I use a function such as barssince, to scan say the entire ASX 200 to produce a list that tells me how today’s bandwidth compares with previous ones... I realise your ATR filter is doing something similar. I suppose I’m just trying to figure out how a fetrure such as barssince works.

If today’s Bollinger Bandwidth is not particularly narrow it would return a value of 0 or 1..i.e. it’s the narrowest it’s been in only one day..maybe not even contracting at all but expanding. But if it’s the narrowest in say 201 days then place that result in a column. Then I sort that column and focus my attention on the top 10 narrowest, using your Bingo indicator as confirmation.

Thank you most kindly again for your help.

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