9# Bollinger Bands and the Gimmees bars Trading System
Submit by janustrader 04/04/2011
Gimmee bars are an reversal bars that Take place once prices have reached the upper or lover bands in a sideways moving market.
Gimmee bars are bars that reverse price direction once prices have
touched the upper or lower bands. However, please note that this
must happen in conjunction with prices being overall in consolidation
(Trading Range).
GIMMEE BARS AT THE UPPER BAND
Once prices touch the upper band, the bar touching the upper band
or the very next bar may become designated as the Gimmee bar. All
that is required is the occurrence of a price bar which closes lower
than it opens.
Should such a price bar occur, a sell short order is to be executed
one tick below the low of the Gimmee bar.
The Gimmee bar in this example is
the one that touched the upper band.
What makes it the Gimmee bar is:
1. Prices were rising.
2. Prices touched the upper band.
3. The price bar closed lower than it
opened when prices were
previously rising.
A sell order should be placed one pip
below the low of the Gimmee bar.
GIMMEE BARS AT THE LOWER BAND
Once prices touch the lower band, the bar touching the lower band or the very
next bar may become designated as the Gimmee bar.
All that is required is the occurrence of a price bar which closes higher than it opens.
Should such a price bar occur, a buy order is to be executed one tick above the high of the Gimmee bar.
The Gimmee bar in this example is the one
that touched the lower band. What makes it
the Gimmee bar is:
1. Prices were falling.
2. Prices touched the lower band.
3. The price bar closed higher than it opened
when prices were previously falling.
A buy order should be placed one tick above
the high of the Gimmee bar.
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samuel (Sunday, 23 August 2020 07:51)
DO you have this strategy EA? with an earlier entry (using KDJ).
Satrio (Thursday, 20 June 2019 05:13)
what are the setting for BB and TF?