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RE: Steemit Crypto Academy Week 16 by @kouba01 : Cryptocurrency Trading with Bollinger Bands

in SteemitCryptoAcademy4 years ago

Hello @robbee,
Thank you for participating in the 8th Week Crypto Course in its second season and for your efforts to complete the suggested tasks, you deserve a 6/10 rating, according to the following scale:

OriginalityCompliance with topicConsistency of methodQuality of analysisClarity of structure & language
(1/2)
(1.5/2)
(1/2)
(1/2)
(1.5/2)

My review :

In this setting, it is recommended to use 2 standard deviations based on the 20-day moving average. This setting will later make the distance between the Upper and lower bands further apart so that it shows a very clear trend, so it will be very easy to draw to identify it.

  • Bollinger bands settings differ from one stock to another, and changing the settings from one value to another gives you completely different results from each other, but you can change the values and see the result on the Bollinger bands so that the value that makes the Bollinger bands surround the chart and touch it completely as if it is support or resistance is the best setting you can get and watch the time when the distance becomes Between the Bollinger bands, it is as close as possible to know that it is followed by a big change (negative or positive, the important thing is that it is a big change).

The smaller the timeframe used, making visualization and observation easier.

There is really no best time frame so it depends on your trading style and approach:

  • If you are a day trader, you will use Bollinger Bands on the lower time frame such as the time frame of 15 minutes or less.
  • If you are a swing trader, you will use Bollinger Bands on a daily or weekly time frame.

An accepted article in which the answers to the questions differed between persuasive and less persuasive. Try to understand the question before proceeding to the answer.
Thanks again for your effort, and we look forward to reading your next work.
Sincerely,@kouba01