Bollinger Bands are a technical analysis tool which are used to indicate potentially overbought or oversold conditions and trend identification among other uses. They consist of a middle band being a simple moving average, an upper band which is a certain number of standard deviations above the middle band and a lower band which is a certain number of standard deviations below the middle band. Commonly, the simple moving average uses 20 periods and two standard deviations are used to plot the upper and lower bands. In our example, we have daily pricing data for the EUR/USD currency pair and will use the open prices to calculate the Bollinger Bands.
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[email protected]Overview: (0:00)
Prepare Bollinger Bands: (1:03)
Plot Bollinger Bands: (2:32)