Bollinger Bands are widely used by traders to clarify technical analysis patterns and one of the most elemental and powerful technical analysis patterns is a bottom formation known as a W pattern. Simply described, a W bottom is a decline followed by a rally and then a second decline and subsequent rally. The resulting pattern roughly traces out the pattern of the capital letter W.
To make it easy for traders to find W bottoms, BollingerOnBollingerBands now searches more than 6,000 US stocks each evening for potential W patterns. It looks for a low outside the lower Bollinger Band followed by a second low inside the lower Bollinger Band separated by a meaningful intervening rally and then applies a number of filters to eliminate marginal or questionable patterns so investors are only presented with the best candidates.
W bottom picks are provided in two sections of BollingerOnBollingerBands. The Lists section presents a daily list of potential Ws for trading consideration. In addition a list of Ws from prior trading days can be found in the Screening section.
www.BollingerOnBollingerBands.com is the most powerful and complete Bollinger Bands platform available. The wide array of technical indicators go far beyond Bollinger Bands creating a vital technical analysis website. The W bottom screening is the latest of many powerful tools for the technical analyst.
About www.BollingerOnBollingerBands.com (also www.BBands.com)
John Bollinger's book “Bollinger on Bollinger Bands” was published by McGraw Hill and has been translated into eight languages. His website named after the book provides access to the trading approaches that are introduced there, plus a wide array of technical analysis tools.
The free area of the website includes a thorough description of the three trading approaches presented in the book; a free charting program with several features including Bollinger Bands and Bollinger Envelopes; and a description of Arthur Merrill's M and W patterns.
The subscriber area includes customizable charts and access to a wide variety of indicators; lists of stocks that meet the criteria for each of the trading approaches updated on a daily basis, including both long and short positions; an extensive stock-screening program that allow users to customize the search to fit their own criteria; a unique pattern recognition system that categorizes stocks into a series of M and W patterns; and a personalized portfolio area so users can review how their holdings are doing at a glance.
Regarding the website Bollinger said “I am committed to continually improving the site to provide our users with the best and latest tools available. The W pattern screener adds another powerful tool to the mix.”
After a free one-month trial, subscriptions to www.BollingerOnBollingerBands.com are $25/month.
About John Bollinger
John Bollinger is probably best known for his Bollinger Bands, which have been widely accepted and integrated into most of the analytical software currently in use. He is the president and founder of Bollinger Capital Management, Inc., an investment management company that provides technically driven money management services. The firm also develops and provides proprietary research for institutions and individuals.
Mr. Bollinger has published the Capital Growth Letter since 1987 and is interviewed regularly on television and radio. He is a speaker at financial seminars worldwide and the founder of several financial websites: www.EquityTrader.com, www.FundsTrader.com, www.BollingerBands.com, www.BollingerOnBollingerBands.com, www.GroupPower.com, www.PatternPower.com, www.MarketTechnician.com and www.BBForex.com
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Bollinger Capital has been providing technically driven money management services since 1988. The firm also develops proprietary research for institutions and individuals, and has eight internet websites that provide analysis of the financial markets.