There are plenty of TA indicators out there, but one commonly used indicator is Bollinger Bands. Let's take a look at how and why they can be useful when it comes to identifying movements in the market.
The Bollinger Bands were created in the early 1980s by financial analyst and trader John Bollinger. They are broadly used as an instrument for. Basically, the Bollinger Bands work as an oscillator measurer. It indicates whether the market has high or low volatility, as well as overbought or oversold conditions.
If the price makes its way above the moving average and exceeds the upper Bollinger band, it is probably safe to assume that the market is overextended . Or else, if the price touches the upper band multiple times, it may indicate a significant resistance level. Therefore, traders may use BB to set their selling or buying targets. Or simply to get an overview of the previous points where the market presented overbought and oversold conditions.
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