INTRODUCTION
Hello steemians, I am very delighted to write my homework post for this week and also using this opportunity to say a very big thank you to prof @kouba01 for this wonderful lecture this week.

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Picture edited by myself

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Question 1

Define The Bollinger Bands Indicator By Explaining Its Calculation Method, How Does It Work? And What Is The Best Bollinger Band Setup?

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Bollinger Bands Indicator could be a specialized indicator that makes a difference dealers in exchanging. As professor has told us within this week's lecture the Bollinger Bandss marker instrument was created by John Bollinger in 1980. And it was to begin with made to utilize within the exchanging of stocks and presently it is additionally used within the exchanging of Crypto assets as well.
So the Bollinger Bands Indicator appears the instability of the advertise which features a security cost, with tall and moo as those are seen as Resistance and Support levels. Bollinger Bands have comprised of three lines; the upper, center, and lower band.
The upper line one is called the upper band and the lower line is seen as the lower band. Whereas the center line is the middle band and is set by the traders. Bollinger Bands Indicator takes a normal of 20 days moving normal and after that made a plausibility out of it as no one knows long-standing time but these markers offer assistance in finding probabilities and conceivable outcomes of the advertise.

Bollinger Bands Indicator Calculation Method

The calculation method in the Bollinger band is to determine the Moving Average.

Moving Average = Total Amount Of Price Over Total Number Of Days

To begin with this, we calculate the Moving Normal, and as I have informed you all approximately that over that it is seen as a 20-day Moving normal because it is supported by John Bollinger, the father of Bollinger Bands. 20 is the default esteem moreover you can put 10 days of moving normal and 50 days of Moving Average.
So when we are going to calculate the Moving normal of security, we'll get the Bollinger Band. There is one more parameter in Bollinger Band which is Instability or Standard Deviation, and as in default, it is 2 Standard deviation since we are utilizing 20 days of Moving Normal. But on the off chance that we utilize 10 days of Moving normal the Standard deviation will be 1.5 and in case we utilize 50 days of moving normal the standard deviation will be 2.5.

Now with regards to the three Bollinger Band lines, we have the below indications;

1. 10 Days moving average is used for short term
2. 20 Days moving average is used for medium-term
3. 50 days moving average is used for long

Best Bollinger Band Indicator Setup

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I'm going to perform the set-up of the best Bollinger Band Indicator using trading view

1. Here you will click on fx and type the indicator you want in the search button and as I want bollinger band so I clicked on that.

2 Now the chart is showing the Bollinger band indicator.

3 After that we will click on it's setting to set the periods and standard deviation.

All the Screenshots are from trading view

As we can all see from the above screenshots by default the length is 20 which is the moving normal of Bollinger Bands and the standard deviation is set to 2.
And the source is set to shut as the bands will be near to each other and the balanced is which is appearing that the candles which are after the chart are not valuable so that's why they are set to 0.
In the periods you can put the period at 10 or 50 days moving normal and with the 10 days moving normal we'll need to put 1.5 standard deviation which are the crevice between the center line and the other line. and with 50 days moving normal we are going have to be put the standard deviation at 2.5.

Question 2

What Is A Breakout And How Do You Determine it? (Screenshot required)

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We can say that, playing the bands oppositely and betting on reversion with the mean is termed playing Bollinger Band breakout.
We can then say that, the breakout is said to occur when after due to some period of consolidations, also when prices closes from outside the Bollinger bands is termed breakout and i will be teaching you how it is determined.
I have indicated my breakouts in the diagram below I took in the trading view using coinmarketcap

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Question 3

How To Use Bollinger Bands With A Trending Market? (screenshot required)

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Upon trying to to establish the fundamental and basic rules of the Bollinger Band, it is seen that, I can make my demonstrations on how to use this tool in your trading market. Mind you, we have the trend-traders and the the fade-traders. The trend-traders are there t make more exploitations whiles the fade-traders are just in the trade to make some profit from the trend reversals or trend exhaustion.
Looking at my chart above, it is seen that, the trend traders in this chart as I have indicated will position the buy zone to the long trends thereby aiding them to stay in the trade as the BB closes the needed price actions as the trend mover higher.
For making exits, any trader involved in using this tool will definitely know when to exit as the trend stays in the no mans land for a while, immediately it reachs its peak, it will come back to the sell zone, so you do the needful.

Question 4

What Is The Best Indicator To Use With Bollinger Bands To Make Your Trade More Meaningful? (Screenshot required) (Screenshot required)

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To see that which Bollinger Bands make our exchange more significant, I will say the MACD and RSI indicators, as I have learned approximately these two from these lectures. But I think RSI with Bollinger bands make our exchange more meaningfull and it makes things more simpler, otherwise the MACD indicator is additionally a great indicator and for the most part utilize it in exchanging but it does not get fit with Bollinger Bands concurring to my perception.
So I think RSI indicator is the most excellent marker to utilize with Bollinger bands. Now the address emerges that why we indeed any pointer with Bollinger Bands, as Bollinger Bands is additionally a great indicator. But if see closely into Bollinger Bands we are going get to know that Bollinger Bands may be a awesome indicator for distinguishing ranges of esteem but it does not appears us the ups and downs of the showcase closely and for the the RSI pointer came which makes a difference in seeing that.

Screenshot from trading view

From the above screenshot we can see that the Bollinger bands is focusing on values as the market makes high but the RSI shows the Lower high. And in other one when the market makes the lower low and the RSI show the Lower low. So these are the ups and downs the RSI shows and with Bollinger Bands it make our trade more meaningful.

Question 5

What Timeframe Does The Bollinger Bands Work Best On?And why? (Screenshots required)

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I do not think there are any specific time allotment on which Bollinger bands work best on, as we have seen the charts of distinctive time outline and Bollinger bands works best on each time frame. It all depends on the dealer on which time allotment he needs to utilize the Bollinger band indicator, so in case I were to utilize Bollinger bands I will utilize it on day by day and week after week time allotment, as from there I can see the bg picture of the advertise as in the event that the showcase is going upward or descending.

Screenshot from trading view

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As we can all see that in 1 Hr time frame the market is trending, and it may go down, so that is why I prefer 1 day or weekly timeframe as it shows the big picture of the market.

Question 6

Review The Chart Of Any Pair And Present The Various Signals Giving By The Indicator Bollinger Bands. (Screenshot required)

Review of ETH/USDT

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This is a 4 hour timeframe of the ETH/USDT pair, looking at the chart above, it is totally true that, the was a buy order of this pair since the prices had to bounce below the lower band of the indicator. Its totally evident that, there was a buy order. Belowis also the

Using the 1 hour time frame of the xrp/usd pair, it is evident enough that we have a buy order, as prices just bounced off the lower band of the indicator. To indicate or add more value, i will use the stochastic indicator again.

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This is the %B indicator, which has proven my claim of the fact that the prices had bounce below the lower Bands and therefore an initiation of a buy order. Show in the screen shot above.

Conclusion

To conclude with, the Bollinger Band strategy is a very good indicator to use in predicting the price of Crypto assets. It also helps us to know how load or quite the market is in terms of volatility and they are to be used with the RSI for better confirmation.
I will like to use this opportunity to thank the professor @kouba01 for his wonderful lecture this week. I really learn a lot from his lecture and I hope my homework task will be accepted and review thank you!!!