Double Bollinger Band / TEMA Trend Indicator
- This Indicator charts the trends and shows good zones to buy and sell
Over Sold - When the Yellow line is within the bottom Green channel
Over Bought - When the Yellow line is within the top Red channel
*Pyramiding is used*
For Long entries - I personally wait for the indicator to show over sold, then I wait for the close to drop below the larger BB. After this, the close needs to cross above the TEMA while it remains in the Green channel.
*I like to ignore additional buy signals within a certain % range of the previous buy. This helps to eliminate spam buys caused by short term volatility*
For Short entries - I do the opposite of the Long entries... Wait for overbought, close crosses above larger BB. After that, the close has to drop below the TEMA while it is in the Red channel.
*Don't do the % difference for short entries... This helps get rid of overlapping buys over time*
Also I'm curious what other Indicators would go well with this to eliminate false buys so lmk what you guys think would work well
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