Bollinger Band Divergence

The Bollinger Band Divergence method is based on the rules and the principles of the Forex Master Method system. If you do not totally understand the FMM trading strategy, go back and learn it first!

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Preface
I know that many traders use the Bollinger Bands in their day to day trading. When a trader is comfortable with a certain indicator, it can be difficult to let it go for something else. The beauty of the Forex Master Method is that we can include the Bollinger Bands in our studies.

Bollinger Bands can show divergence. This manual will show you how to identify BB Divergence and how you can incorporate it into the FMM system.

It’s important to note that this manual goes hand in hand with the Forex Master Method (FMM) system. We will NOT abandon FMM rules and signals. Directional Bias (DB) will show how to incorporate trend trading into FMM as total package.

What are Bollinger Bands
In the 1980’s, John Bollinger developed an indicator that enveloped price. 90% of the market action was maintained inside this envelope with price breaking out occasionally. This envelope, or Bands, was designed to show the trader what the market volatility was like. A wider band meant more volatility while a narrower band meant a quieter market.

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The standard Bollinger Band consists of a 20 period SMA as a center band with a band on either side of price enveloping the market movement.

There are several ways to trade a Bollinger Band, but the method we are specifically going to look at will be spotting Divergence within the bands.

Applying the Bollinger Bands to Your Chart
On your MT4 platform, to add the Bollinger Bands, click:
Insert > Indicators > Trend > Bollinger Bands

A Bollinger Bands properties box will appear. Under the Parameters tab, make the settings:
Period: 20 Shift: 0 Deviations: 2 Apply to: Close
Then click: OK
The next thing is to identify divergence within the bands.

The Bollinger Bubble
I don’t know for sure if there is a real technical term for what I am calling the Bollinger Bubble, maybe there is. If so, I am not aware of its name, and the term “bubble” seems to suit it just fine.

As price starts to move in a direction, the Bollinger Bands will widen in both directions. As price begins to slow down and move sideways, the bands narrow again. This formation isn’t perfectly round, but it does look a lot like a bubble.

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What we are looking for as far as divergence is concerned will be happening along one edge of a bubble. We won’t consider a high in one bubble and a second high in a following bubble. Both highs or lows must be within the same bubble on the same side, either the top edge or the bottom edge.