Nice BB. Looks like that’s historically been a good setting to estimate the bottom. Not always accurate....but what is? Thanks for sharing. 👍
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Nice BB. Looks like that’s historically been a good setting to estimate the bottom. Not always accurate....but what is? Thanks for sharing. 👍
Yes, it's all in the settings. This one is really good medium to long-term. It took quite a bit of theoretical reasoning, followed by practical trial and error to find the right indicator and settings for it.
As you say it isn't perfect, but that's where our job begins! After all, all TA is open to interpretation. For proper long-term you have to increase "K" more. I find that on this setting it predicts most accurately when it forms a steep peak or valley (as it has recently). It seems like when it crosses into overbought/oversold territory and stays there, then the significance of the indicator diminishes and the corresponding price movement is over a far smaller range.