What are Bollinger Bands?

Pushed by his feeling that there should be a relationship between currency's price movement and bands, John Bollinger invented the Bollinger Bands. He considered that this relationship is more relevant than the one between bands and fixed percentage amount. Bollinger Bands include the assumption that 95% of the price movement is included in two bands.

Thus, the calculations consist of two standard deviations speaking in statistical terms. This estimation component provides bands with the adjustment possibility to any changes that can occur on the forex market. Three curves form the Bollinger Bands.

Usually the simple moving average is used in order to draw the middle one and it serves as the base for the upper and lower bands which are plotted at two standard deviations. The exponential moving average is sometimes used in plotting in order to provide for a higher sensitivity of the indicator. This, however, provides for the greater market noise as well.

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