Bollinger Bands Inside bar

17 may 2023

the indicator name is Bollinger Band inside bar because it uses Bollinger Band and inside bar to take counter-trend positions in the market. whenever this pattern is formed then it can be used to take an entry into the market. the candlestick pattern recognizes 3 candle candlestick. first the mother bar i.e. the medium to the big size candle that intersects with the upper and the lower levels of the Bollinger band. the second candle should be an inside bar i.e. the high and low of the current bar should be less than the previous bar. finally, the last bar who's low should be less than the mother bar in case of the mother bar is at upper levels and if the mother bar is at lower levels then the candle's high should be more than the mother bar. the stop-loss should be high and low of the mother bar respectively. entry should be taken as soon as the low and high of the mother bar is taken out respectively. target should be 1:1 or 20 sma or lower Bollinger band in case the entry is taken from the top. works best if there is a trend and the market takes a pullback and this pattern is formed.