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1. Shard Calculation

Query:

Response:

Calculated Shard: 68 (from laksa190)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa068.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://corporatefinanceinstitute.com/resources/equities/bollinger-bands/\')), getAhrefsUnparsedNoserviceFromURL(\'https://corporatefinanceinstitute.com/resources/equities/bollinger-bands/\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/corporatefinanceinstitute.com\/resources\/equities\/bollinger-bands\/","crawl_time":1775513187,"first_indexed_time":1666909317,"http_code":200,"src_unparsed":"com,corporatefinanceinstitute!\/resources\/equities\/bollinger-bands\/ s443","src_root_hash":"407738686562150068","history_drop_reason":null,"meta_title":"Bollinger Bands® - Definition, Limits, Trading","meta_descriptions":["Bollinger Bands were developed by John Bollinger in the 1980s for trading stocks. The bands comprise a volatility indicator that measures the relative high or low"],"attrs_boilerpipe_text":"Volatility bands placed above and below a moving average\nPublished\nJanuary 25, 2018\nRead Time\n5\n                                                      minutes\nOver 2.8 million + professionals use CFI to learn accounting, financial analysis, modeling and more. Unlock the essentials of corporate finance with our free resources and get an exclusive sneak peek at the first module of each course.\nStart Free\nWhat are Bollinger Bands?\nBollinger Bands are a technical analysis tool developed by John Bollinger in the 1980s for trading stocks. The bands comprise a volatility indicator that measures the relative high or low of a security’s price in relation to previous trades.\nVolatility\nis measured using standard deviation, which changes with increases or decreases in volatility. The bands widen when there is a price increase, and narrow when there is a price decrease. Due to their dynamic nature, Bollinger Bands can be applied to the trading of various\nsecurities\n.\nBollinger Bands are comprised of three lines – the upper, middle, and lower band. The middle band is a moving average, and its parameters are chosen by the trader. The upper and lower bands are positioned on either side of the moving average band. The trader decides the number of standard deviations they need the volatility indicator set at. The number of standard deviations, in turn, determines the distance between the middle band and the upper and lower bands. The position of these bands provides information on how strong the trend is and the potential high and low price levels that may be expected in the immediate future.\nDay Trading Uptrends With Bollinger Bands\nBollinger Bands can be used to determine how strongly an asset is rising and when it is potentially reversing or losing strength. If an uptrend is strong enough, it will reach the upper band regularly. An uptrend that reaches the upper band indicates that the stock is pushing higher and traders can exploit the opportunity to make a\nbuy decision\n.\nIf the price pulls back within the uptrends, and it stays above the middle band and moves back to the upper band, that indicates a lot of strength. Generally, a price in the uptrend should not touch the lower band, and if it does, it is a warning sign for a reverse or that the stock is losing strength.\nMost\ntechnical traders\naim to profit from the strong uptrends before a reversal occurs. Once a stock fails to reach a new peak, traders tend to sell the asset at this point to avoid incurring losses from a reversed trend. Technical traders monitor the behavior of an uptrend to know when it shows strength or weakness, and they use this as an indication of a possible trend reversal.\nDay Trading Downtrends With Bollinger Bands\nBollinger Bands can be used to determine how strongly an asset is falling and when it is potentially reversing to an upside trend. In a strong downtrend, the price will run along the lower band, and this shows that selling activity remains strong. But if the price fails to touch or move along the lower band, it is an indication that the downtrend may be losing momentum.\nWhen there are price pullbacks (highs), and the price stays below the middle band and then moves back to the lower band, it is an indication of a lot of downtrend strength. In a downtrend, prices should not break above the upper band since this would indicate that the trend may be reversing, or it is slowing.\nMany traders avoid trading during downtrends, other than looking for an opportunity to buy when the trend begins to change. The downtrend can last for short or long durations – either minutes, hours, weeks, days, months, or even years. Investors must identify any sign of downtrends early enough to protect their investments. If the lower bands show a steady downtrend, traders must be cautious to avoid entering into long trades that will prove unprofitable.\nTrading W-Bottoms and M-Tops\nW-Bottoms and M-Tops were part of Arthur Merrill’s work that identifies 16 patterns with a basic W-Pattern and M-Pattern, respectively. Bollinger Bands use W patterns to identify W-Bottoms when the second low is lower than the first low but holds above the lower band. It occurs when a reaction low forms close to or below the lower band.\nThe price then pulls back towards the middle band or higher and creates a new price low that holds the lower band. When the price moves above the high of the first pullback, the W-button is in place as shown in the figure below, and indicates that the price will likely rise to a new high.\nSource: Stockcharts.com\nJohn Bollinger used the M patterns with Bollinger Bands to identify M-Tops. In its basic form, an M-Top is similar to a Double Top chart pattern. An M-Top occurs when there is a reaction that moves close to or above the upper band. The price then pulls back towards the middle band or lower and creates a new price high, but does not close above the upper band. If the price then moves below the low of the prior pullback, the M-Top is in place as shown in the figure below.\nSource: Stockcharts.com\nLimitations of Bollinger Bands\nAlthough Bollinger Bands are helpful tools for technical traders, there are a few limitations that traders should consider before using them. One of these limitations is that Bollinger Bands are primarily reactive, not predictive. The bands will react to changes in price movements, either uptrends or downtrends, but will not predict prices. In other words, like most technical indicators, Bollinger Bands are a lagging indicator. This is because the tool is based on a simple moving average, which takes the average price of several price bars.\nAlthough traders may use the bands to gauge the trends, they cannot use the tool alone to make price predictions. John Bollinger, the Bollinger Bands’ developer, recommends that traders should use the system along with two or three non-correlated tools that provide more direct\nmarket signals.\nAnother limitation of Bollinger Bands is that the standard settings will not work for all traders. Traders must find settings that allow them to set guidelines for specific stocks that they are trading. If the selected band settings fail to work, traders may alter the settings or use a different tool altogether. The effectiveness of Bollinger Bands varies from one market to another, and traders may need to adjust the settings even if they are trading the same security over a period of time.\nTo learn more about Bollinger Bands, visit\nhttps:\/\/www.bollingerbands.com\/\nAdditional Resources\nThank you for reading CFI’s guide on Bollinger Bands®. To keep advancing your career, the additional CFI resources below will be useful:\nTrading Channels\nStock Investment Strategies\nSpeed Lines – A Technical Analysis\nTrade Order Timing\nSee all equities resources\nSee all capital markets resources","attrs_markdown":"[Corporate Finance Institute](https:\/\/corporatefinanceinstitute.com\/)\n\nMenu\n\n- [Certifications](https:\/\/corporatefinanceinstitute.com\/certifications\/)\n- [Courses](https:\/\/corporatefinanceinstitute.com\/collections\/)\n- [Resources](https:\/\/corporatefinanceinstitute.com\/resources\/)\n- [About](https:\/\/corporatefinanceinstitute.com\/about-cfi\/)\n- [Pricing](https:\/\/corporatefinanceinstitute.com\/pricing\/)\n- [Teams](https:\/\/corporatefinanceinstitute.com\/cfi-for-teams\/)\n\n[My Dashboard](https:\/\/learn.corporatefinanceinstitute.com\/dashboard)\n\n[Log In](https:\/\/learn.corporatefinanceinstitute.com\/auth\/login)\n\n[Start Free](https:\/\/learn.corporatefinanceinstitute.com\/auth\/registration)\n\n- [Certifications](https:\/\/corporatefinanceinstitute.com\/certifications\/)\n- [Specializations](https:\/\/corporatefinanceinstitute.com\/resources\/equities\/bollinger-bands\/)\n- [Courses](https:\/\/corporatefinanceinstitute.com\/collections\/)\n- [About CFI](https:\/\/corporatefinanceinstitute.com\/about-cfi\/)\n- [Pricing](https:\/\/corporatefinanceinstitute.com\/pricing\/)\n- [Resources](https:\/\/corporatefinanceinstitute.com\/resources\/)\n- [Pricing](https:\/\/corporatefinanceinstitute.com\/?page_id=207142)\n- [Why CFI Certifications?](https:\/\/corporatefinanceinstitute.com\/cfi-for-teams\/certified-professionals\/)\n\n[My Dashboard](https:\/\/learn.corporatefinanceinstitute.com\/dashboard)\n\n[Log In](https:\/\/learn.corporatefinanceinstitute.com\/auth\/login)\n\n[Start Free](https:\/\/learn.corporatefinanceinstitute.com\/auth\/registration)\n\n[Home](https:\/\/corporatefinanceinstitute.com\/ \"Go to Corporate Finance Institute.\")\n\n›\n\n[Resources](https:\/\/corporatefinanceinstitute.com\/resources\/ \"Go to Resources.\")\n\n›\n\n[Equities](https:\/\/corporatefinanceinstitute.com\/topic\/equities\/ \"Go to the Equities Resource Type archives.\")\n\n›\n\nBollinger Bands®\n\nTable of Contents\n\n- [What are Bollinger Bands?](https:\/\/corporatefinanceinstitute.com\/resources\/equities\/bollinger-bands\/#what-are-bollinger-bands)\n- [Day Trading Uptrends With Bollinger Bands](https:\/\/corporatefinanceinstitute.com\/resources\/equities\/bollinger-bands\/#day-trading-uptrends-with-bollinger-bands)\n- [Day Trading Downtrends With Bollinger Bands](https:\/\/corporatefinanceinstitute.com\/resources\/equities\/bollinger-bands\/#day-trading-downtrends-with-bollinger-bands)\n- [Trading W-Bottoms and M-Tops](https:\/\/corporatefinanceinstitute.com\/resources\/equities\/bollinger-bands\/#trading-w-bottoms-and-m-tops)\n- [Limitations of Bollinger Bands](https:\/\/corporatefinanceinstitute.com\/resources\/equities\/bollinger-bands\/#limitations-of-bollinger-bands)\n- [Additional Resources](https:\/\/corporatefinanceinstitute.com\/resources\/equities\/bollinger-bands\/#additional-resources)\n\n# Bollinger Bands®\nVolatility bands placed above and below a moving average\n\nWritten by  [CFI Team](https:\/\/corporatefinanceinstitute.com\/about-cfi\/)\n\nPublished January 25, 2018\n\nRead Time  5 minutes\n\nOver 2.8 million + professionals use CFI to learn accounting, financial analysis, modeling and more. Unlock the essentials of corporate finance with our free resources and get an exclusive sneak peek at the first module of each course.    [Start Free](https:\/\/learn.corporatefinanceinstitute.com\/auth\/registration)\n## What are Bollinger Bands?\nBollinger Bands are a technical analysis tool developed by John Bollinger in the 1980s for trading stocks. The bands comprise a volatility indicator that measures the relative high or low of a security’s price in relation to previous trades. [Volatility](https:\/\/corporatefinanceinstitute.com\/resources\/valuation\/market-risk-premium\/) is measured using standard deviation, which changes with increases or decreases in volatility. The bands widen when there is a price increase, and narrow when there is a price decrease. Due to their dynamic nature, Bollinger Bands can be applied to the trading of various [securities](https:\/\/corporatefinanceinstitute.com\/resources\/accounting\/marketable-securities\/).\n\n![Bollinger Bands Chart]()\n\nBollinger Bands are comprised of three lines – the upper, middle, and lower band. The middle band is a moving average, and its parameters are chosen by the trader. The upper and lower bands are positioned on either side of the moving average band. The trader decides the number of standard deviations they need the volatility indicator set at. The number of standard deviations, in turn, determines the distance between the middle band and the upper and lower bands. The position of these bands provides information on how strong the trend is and the potential high and low price levels that may be expected in the immediate future.\n\n## Day Trading Uptrends With Bollinger Bands\nBollinger Bands can be used to determine how strongly an asset is rising and when it is potentially reversing or losing strength. If an uptrend is strong enough, it will reach the upper band regularly. An uptrend that reaches the upper band indicates that the stock is pushing higher and traders can exploit the opportunity to make a [buy decision](https:\/\/corporatefinanceinstitute.com\/resources\/career\/buy-side-vs-sell-side\/).\n\nIf the price pulls back within the uptrends, and it stays above the middle band and moves back to the upper band, that indicates a lot of strength. Generally, a price in the uptrend should not touch the lower band, and if it does, it is a warning sign for a reverse or that the stock is losing strength.\n\nMost [technical traders](https:\/\/corporatefinanceinstitute.com\/resources\/career\/equity-trader\/) aim to profit from the strong uptrends before a reversal occurs. Once a stock fails to reach a new peak, traders tend to sell the asset at this point to avoid incurring losses from a reversed trend. Technical traders monitor the behavior of an uptrend to know when it shows strength or weakness, and they use this as an indication of a possible trend reversal.\n\n## Day Trading Downtrends With Bollinger Bands\nBollinger Bands can be used to determine how strongly an asset is falling and when it is potentially reversing to an upside trend. In a strong downtrend, the price will run along the lower band, and this shows that selling activity remains strong. But if the price fails to touch or move along the lower band, it is an indication that the downtrend may be losing momentum.\n\nWhen there are price pullbacks (highs), and the price stays below the middle band and then moves back to the lower band, it is an indication of a lot of downtrend strength. In a downtrend, prices should not break above the upper band since this would indicate that the trend may be reversing, or it is slowing.\n\nMany traders avoid trading during downtrends, other than looking for an opportunity to buy when the trend begins to change. The downtrend can last for short or long durations – either minutes, hours, weeks, days, months, or even years. Investors must identify any sign of downtrends early enough to protect their investments. If the lower bands show a steady downtrend, traders must be cautious to avoid entering into long trades that will prove unprofitable.\n\n## Trading W-Bottoms and M-Tops\nW-Bottoms and M-Tops were part of Arthur Merrill’s work that identifies 16 patterns with a basic W-Pattern and M-Pattern, respectively. Bollinger Bands use W patterns to identify W-Bottoms when the second low is lower than the first low but holds above the lower band. It occurs when a reaction low forms close to or below the lower band.\n\nThe price then pulls back towards the middle band or higher and creates a new price low that holds the lower band. When the price moves above the high of the first pullback, the W-button is in place as shown in the figure below, and indicates that the price will likely rise to a new high.\n\n![Bollinger Bands - Trading W-Bottoms and M-Tops]()\n\nSource: Stockcharts.com\n\nJohn Bollinger used the M patterns with Bollinger Bands to identify M-Tops. In its basic form, an M-Top is similar to a Double Top chart pattern. An M-Top occurs when there is a reaction that moves close to or above the upper band. The price then pulls back towards the middle band or lower and creates a new price high, but does not close above the upper band. If the price then moves below the low of the prior pullback, the M-Top is in place as shown in the figure below.\n\n![Bollinger - Chart]()\n\nSource: Stockcharts.com\n## Limitations of Bollinger Bands\nAlthough Bollinger Bands are helpful tools for technical traders, there are a few limitations that traders should consider before using them. One of these limitations is that Bollinger Bands are primarily reactive, not predictive. The bands will react to changes in price movements, either uptrends or downtrends, but will not predict prices. In other words, like most technical indicators, Bollinger Bands are a lagging indicator. This is because the tool is based on a simple moving average, which takes the average price of several price bars.\n\nAlthough traders may use the bands to gauge the trends, they cannot use the tool alone to make price predictions. John Bollinger, the Bollinger Bands’ developer, recommends that traders should use the system along with two or three non-correlated tools that provide more direct [market signals.](https:\/\/www.bloomberg.com\/view\/articles\/2016-08-17\/market-signals-just-aren-t-what-they-used-to-be)\n\nAnother limitation of Bollinger Bands is that the standard settings will not work for all traders. Traders must find settings that allow them to set guidelines for specific stocks that they are trading. If the selected band settings fail to work, traders may alter the settings or use a different tool altogether. The effectiveness of Bollinger Bands varies from one market to another, and traders may need to adjust the settings even if they are trading the same security over a period of time.\n\nTo learn more about Bollinger Bands, visit <https:\/\/www.bollingerbands.com\/>\n\n## Additional Resources\nThank you for reading CFI’s guide on Bollinger Bands®. To keep advancing your career, the additional CFI resources below will be useful:\n\n- [Trading Channels](https:\/\/corporatefinanceinstitute.com\/resources\/career-map\/sell-side\/capital-markets\/trading-channel\/)\n- [Stock Investment Strategies](https:\/\/corporatefinanceinstitute.com\/resources\/career-map\/sell-side\/capital-markets\/stock-investment-strategies\/)\n- [Speed Lines – A Technical Analysis](https:\/\/corporatefinanceinstitute.com\/resources\/career-map\/sell-side\/capital-markets\/speed-lines-technical-analysis\/)\n- [Trade Order Timing](https:\/\/corporatefinanceinstitute.com\/resources\/career-map\/sell-side\/capital-markets\/trade-order-timing\/)\n- **[See all equities resources](https:\/\/corporatefinanceinstitute.com\/topic\/equities\/)**\n- **[See all capital markets resources](https:\/\/corporatefinanceinstitute.com\/topic\/capital-markets\/)**\n\nGet Certified for Capital Markets (CMSA®)\n\nFrom equities and fixed income to derivatives, the CMSA certification bridges the gap from where you are now to where you want to be — a world-class capital markets analyst.\n\n[Learn More](https:\/\/corporatefinanceinstitute.com\/certifications\/capital-markets-securities-analyst-cmsa\/)\n\n- Share this article\n- [![Share on LinkedIn]()](http:\/\/www.linkedin.com\/shareArticle?mini=true&url=https%3A%2F%2Fcorporatefinanceinstitute.com%2Fresources%2Fequities%2Fbollinger-bands%2F&summary=Bollinger+Bands%C2%AE \"Share on LinkedIn\")\n- [![Share on Facebook]()](https:\/\/www.facebook.com\/sharer\/sharer.php?u=https%3A%2F%2Fcorporatefinanceinstitute.com%2Fresources%2Fequities%2Fbollinger-bands%2F \"Share on Facebook\")\n- [![Share on Twitter]()](https:\/\/twitter.com\/intent\/tweet?text=Bollinger+Bands%C2%AE&url=https%3A%2F%2Fcorporatefinanceinstitute.com%2Fresources%2Fequities%2Fbollinger-bands%2F \"Share on Twitter\")\n- [![Share on WhatsApp]()](https:\/\/wa.me\/?text=https%3A%2F%2Fcorporatefinanceinstitute.com%2Fresources%2Fequities%2Fbollinger-bands%2F&summary=Bollinger+Bands%C2%AE \"Share on WhatsApp\")\n- [![Copy link]()](https:\/\/corporatefinanceinstitute.com\/resources\/equities\/bollinger-bands\/ \"Copy link\")\n\n- [About CFI](https:\/\/corporatefinanceinstitute.com\/about-cfi\/)\n  - 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[Log in](https:\/\/corporatefinanceinstitute.com\/resources\/equities\/bollinger-bands\/)\n\n×\n\n### Supercharge your skills with Premium Templates\nTake your learning and productivity to the next level with our Premium Templates.\n\nUpgrading to a paid membership gives you access to our extensive collection of plug-and-play Templates designed to power your performance—as well as CFI's full course catalog and accredited Certification Programs.\n\n[Discover Paid Memberships](https:\/\/corporatefinanceinstitute.com\/pricing\/)\n\nAlready have a Self-Study or Full-Immersion membership? [Log in](https:\/\/corporatefinanceinstitute.com\/resources\/equities\/bollinger-bands\/)\n\n×\n\n### Access Exclusive Templates\nGain unlimited access to more than 250 productivity Templates, CFI's full course catalog and accredited Certification Programs, hundreds of resources, expert reviews and support, the chance to work with real-world finance and research tools, and more.\n\n[Discover Full-Immersion Membership](https:\/\/corporatefinanceinstitute.com\/pricing\/)\n\nAlready have a Full-Immersion membership? [Log in](https:\/\/corporatefinanceinstitute.com\/resources\/equities\/bollinger-bands\/)","attrs_readable_markdown":"Volatility bands placed above and below a moving average\n\nPublished January 25, 2018\n\nRead Time  5 minutes\n\nOver 2.8 million + professionals use CFI to learn accounting, financial analysis, modeling and more. Unlock the essentials of corporate finance with our free resources and get an exclusive sneak peek at the first module of each course.    [Start Free](https:\/\/learn.corporatefinanceinstitute.com\/auth\/registration)\n## What are Bollinger Bands?\nBollinger Bands are a technical analysis tool developed by John Bollinger in the 1980s for trading stocks. The bands comprise a volatility indicator that measures the relative high or low of a security’s price in relation to previous trades. [Volatility](https:\/\/corporatefinanceinstitute.com\/resources\/valuation\/market-risk-premium\/) is measured using standard deviation, which changes with increases or decreases in volatility. The bands widen when there is a price increase, and narrow when there is a price decrease. Due to their dynamic nature, Bollinger Bands can be applied to the trading of various [securities](https:\/\/corporatefinanceinstitute.com\/resources\/accounting\/marketable-securities\/).\n\n![Bollinger Bands Chart](https:\/\/cdn.corporatefinanceinstitute.com\/assets\/bollinger-bands-chart.png)\n\nBollinger Bands are comprised of three lines – the upper, middle, and lower band. The middle band is a moving average, and its parameters are chosen by the trader. The upper and lower bands are positioned on either side of the moving average band. The trader decides the number of standard deviations they need the volatility indicator set at. The number of standard deviations, in turn, determines the distance between the middle band and the upper and lower bands. The position of these bands provides information on how strong the trend is and the potential high and low price levels that may be expected in the immediate future.\n\n## Day Trading Uptrends With Bollinger Bands\nBollinger Bands can be used to determine how strongly an asset is rising and when it is potentially reversing or losing strength. If an uptrend is strong enough, it will reach the upper band regularly. An uptrend that reaches the upper band indicates that the stock is pushing higher and traders can exploit the opportunity to make a [buy decision](https:\/\/corporatefinanceinstitute.com\/resources\/career\/buy-side-vs-sell-side\/).\n\nIf the price pulls back within the uptrends, and it stays above the middle band and moves back to the upper band, that indicates a lot of strength. Generally, a price in the uptrend should not touch the lower band, and if it does, it is a warning sign for a reverse or that the stock is losing strength.\n\nMost [technical traders](https:\/\/corporatefinanceinstitute.com\/resources\/career\/equity-trader\/) aim to profit from the strong uptrends before a reversal occurs. Once a stock fails to reach a new peak, traders tend to sell the asset at this point to avoid incurring losses from a reversed trend. Technical traders monitor the behavior of an uptrend to know when it shows strength or weakness, and they use this as an indication of a possible trend reversal.\n\n## Day Trading Downtrends With Bollinger Bands\nBollinger Bands can be used to determine how strongly an asset is falling and when it is potentially reversing to an upside trend. In a strong downtrend, the price will run along the lower band, and this shows that selling activity remains strong. But if the price fails to touch or move along the lower band, it is an indication that the downtrend may be losing momentum.\n\nWhen there are price pullbacks (highs), and the price stays below the middle band and then moves back to the lower band, it is an indication of a lot of downtrend strength. In a downtrend, prices should not break above the upper band since this would indicate that the trend may be reversing, or it is slowing.\n\nMany traders avoid trading during downtrends, other than looking for an opportunity to buy when the trend begins to change. The downtrend can last for short or long durations – either minutes, hours, weeks, days, months, or even years. Investors must identify any sign of downtrends early enough to protect their investments. If the lower bands show a steady downtrend, traders must be cautious to avoid entering into long trades that will prove unprofitable.\n\n## Trading W-Bottoms and M-Tops\nW-Bottoms and M-Tops were part of Arthur Merrill’s work that identifies 16 patterns with a basic W-Pattern and M-Pattern, respectively. Bollinger Bands use W patterns to identify W-Bottoms when the second low is lower than the first low but holds above the lower band. It occurs when a reaction low forms close to or below the lower band.\n\nThe price then pulls back towards the middle band or higher and creates a new price low that holds the lower band. When the price moves above the high of the first pullback, the W-button is in place as shown in the figure below, and indicates that the price will likely rise to a new high.\n\n![Bollinger Bands - Trading W-Bottoms and M-Tops](https:\/\/cdn.corporatefinanceinstitute.com\/assets\/bollinger-bands.png)\n\nSource: Stockcharts.com\n\nJohn Bollinger used the M patterns with Bollinger Bands to identify M-Tops. In its basic form, an M-Top is similar to a Double Top chart pattern. An M-Top occurs when there is a reaction that moves close to or above the upper band. The price then pulls back towards the middle band or lower and creates a new price high, but does not close above the upper band. If the price then moves below the low of the prior pullback, the M-Top is in place as shown in the figure below.\n\n![Bollinger - Chart](https:\/\/cdn.corporatefinanceinstitute.com\/assets\/bollinger-bands1.png)\n\nSource: Stockcharts.com\n## Limitations of Bollinger Bands\nAlthough Bollinger Bands are helpful tools for technical traders, there are a few limitations that traders should consider before using them. One of these limitations is that Bollinger Bands are primarily reactive, not predictive. The bands will react to changes in price movements, either uptrends or downtrends, but will not predict prices. In other words, like most technical indicators, Bollinger Bands are a lagging indicator. This is because the tool is based on a simple moving average, which takes the average price of several price bars.\n\nAlthough traders may use the bands to gauge the trends, they cannot use the tool alone to make price predictions. John Bollinger, the Bollinger Bands’ developer, recommends that traders should use the system along with two or three non-correlated tools that provide more direct [market signals.](https:\/\/www.bloomberg.com\/view\/articles\/2016-08-17\/market-signals-just-aren-t-what-they-used-to-be)\n\nAnother limitation of Bollinger Bands is that the standard settings will not work for all traders. Traders must find settings that allow them to set guidelines for specific stocks that they are trading. If the selected band settings fail to work, traders may alter the settings or use a different tool altogether. The effectiveness of Bollinger Bands varies from one market to another, and traders may need to adjust the settings even if they are trading the same security over a period of time.\n\nTo learn more about Bollinger Bands, visit <https:\/\/www.bollingerbands.com\/>\n\n## Additional Resources\nThank you for reading CFI’s guide on Bollinger Bands®. To keep advancing your career, the additional CFI resources below will be useful:\n\n- [Trading Channels](https:\/\/corporatefinanceinstitute.com\/resources\/career-map\/sell-side\/capital-markets\/trading-channel\/)\n- [Stock Investment Strategies](https:\/\/corporatefinanceinstitute.com\/resources\/career-map\/sell-side\/capital-markets\/stock-investment-strategies\/)\n- [Speed Lines – A Technical Analysis](https:\/\/corporatefinanceinstitute.com\/resources\/career-map\/sell-side\/capital-markets\/speed-lines-technical-analysis\/)\n- [Trade Order Timing](https:\/\/corporatefinanceinstitute.com\/resources\/career-map\/sell-side\/capital-markets\/trade-order-timing\/)\n- **[See all equities resources](https:\/\/corporatefinanceinstitute.com\/topic\/equities\/)**\n- **[See all capital markets resources](https:\/\/corporatefinanceinstitute.com\/topic\/capital-markets\/)**","meta_canonical":null}

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Boilerpipe Text	Volatility bands placed above and below a moving average Published January 25, 2018 Read Time 5 minutes Over 2.8 million + professionals use CFI to learn accounting, financial analysis, modeling and more. Unlock the essentials of corporate finance with our free resources and get an exclusive sneak peek at the first module of each course. Start Free What are Bollinger Bands? Bollinger Bands are a technical analysis tool developed by John Bollinger in the 1980s for trading stocks. The bands comprise a volatility indicator that measures the relative high or low of a security’s price in relation to previous trades. Volatility is measured using standard deviation, which changes with increases or decreases in volatility. The bands widen when there is a price increase, and narrow when there is a price decrease. Due to their dynamic nature, Bollinger Bands can be applied to the trading of various securities . Bollinger Bands are comprised of three lines – the upper, middle, and lower band. The middle band is a moving average, and its parameters are chosen by the trader. The upper and lower bands are positioned on either side of the moving average band. The trader decides the number of standard deviations they need the volatility indicator set at. The number of standard deviations, in turn, determines the distance between the middle band and the upper and lower bands. The position of these bands provides information on how strong the trend is and the potential high and low price levels that may be expected in the immediate future. Day Trading Uptrends With Bollinger Bands Bollinger Bands can be used to determine how strongly an asset is rising and when it is potentially reversing or losing strength. If an uptrend is strong enough, it will reach the upper band regularly. An uptrend that reaches the upper band indicates that the stock is pushing higher and traders can exploit the opportunity to make a buy decision . If the price pulls back within the uptrends, and it stays above the middle band and moves back to the upper band, that indicates a lot of strength. Generally, a price in the uptrend should not touch the lower band, and if it does, it is a warning sign for a reverse or that the stock is losing strength. Most technical traders aim to profit from the strong uptrends before a reversal occurs. Once a stock fails to reach a new peak, traders tend to sell the asset at this point to avoid incurring losses from a reversed trend. Technical traders monitor the behavior of an uptrend to know when it shows strength or weakness, and they use this as an indication of a possible trend reversal. Day Trading Downtrends With Bollinger Bands Bollinger Bands can be used to determine how strongly an asset is falling and when it is potentially reversing to an upside trend. In a strong downtrend, the price will run along the lower band, and this shows that selling activity remains strong. But if the price fails to touch or move along the lower band, it is an indication that the downtrend may be losing momentum. When there are price pullbacks (highs), and the price stays below the middle band and then moves back to the lower band, it is an indication of a lot of downtrend strength. In a downtrend, prices should not break above the upper band since this would indicate that the trend may be reversing, or it is slowing. Many traders avoid trading during downtrends, other than looking for an opportunity to buy when the trend begins to change. The downtrend can last for short or long durations – either minutes, hours, weeks, days, months, or even years. Investors must identify any sign of downtrends early enough to protect their investments. If the lower bands show a steady downtrend, traders must be cautious to avoid entering into long trades that will prove unprofitable. Trading W-Bottoms and M-Tops W-Bottoms and M-Tops were part of Arthur Merrill’s work that identifies 16 patterns with a basic W-Pattern and M-Pattern, respectively. Bollinger Bands use W patterns to identify W-Bottoms when the second low is lower than the first low but holds above the lower band. It occurs when a reaction low forms close to or below the lower band. The price then pulls back towards the middle band or higher and creates a new price low that holds the lower band. When the price moves above the high of the first pullback, the W-button is in place as shown in the figure below, and indicates that the price will likely rise to a new high. Source: Stockcharts.com John Bollinger used the M patterns with Bollinger Bands to identify M-Tops. In its basic form, an M-Top is similar to a Double Top chart pattern. An M-Top occurs when there is a reaction that moves close to or above the upper band. The price then pulls back towards the middle band or lower and creates a new price high, but does not close above the upper band. If the price then moves below the low of the prior pullback, the M-Top is in place as shown in the figure below. Source: Stockcharts.com Limitations of Bollinger Bands Although Bollinger Bands are helpful tools for technical traders, there are a few limitations that traders should consider before using them. One of these limitations is that Bollinger Bands are primarily reactive, not predictive. The bands will react to changes in price movements, either uptrends or downtrends, but will not predict prices. In other words, like most technical indicators, Bollinger Bands are a lagging indicator. This is because the tool is based on a simple moving average, which takes the average price of several price bars. Although traders may use the bands to gauge the trends, they cannot use the tool alone to make price predictions. John Bollinger, the Bollinger Bands’ developer, recommends that traders should use the system along with two or three non-correlated tools that provide more direct market signals. Another limitation of Bollinger Bands is that the standard settings will not work for all traders. Traders must find settings that allow them to set guidelines for specific stocks that they are trading. If the selected band settings fail to work, traders may alter the settings or use a different tool altogether. The effectiveness of Bollinger Bands varies from one market to another, and traders may need to adjust the settings even if they are trading the same security over a period of time. To learn more about Bollinger Bands, visit https://www.bollingerbands.com/ Additional Resources Thank you for reading CFI’s guide on Bollinger Bands®. To keep advancing your career, the additional CFI resources below will be useful: Trading Channels Stock Investment Strategies Speed Lines – A Technical Analysis Trade Order Timing See all equities resources See all capital markets resources
Markdown	[Corporate Finance Institute](https://corporatefinanceinstitute.com/) Menu - [Certifications](https://corporatefinanceinstitute.com/certifications/) - [Courses](https://corporatefinanceinstitute.com/collections/) - [Resources](https://corporatefinanceinstitute.com/resources/) - [About](https://corporatefinanceinstitute.com/about-cfi/) - [Pricing](https://corporatefinanceinstitute.com/pricing/) - [Teams](https://corporatefinanceinstitute.com/cfi-for-teams/) [My Dashboard](https://learn.corporatefinanceinstitute.com/dashboard) [Log In](https://learn.corporatefinanceinstitute.com/auth/login) [Start Free](https://learn.corporatefinanceinstitute.com/auth/registration) - [Certifications](https://corporatefinanceinstitute.com/certifications/) - [Specializations](https://corporatefinanceinstitute.com/resources/equities/bollinger-bands/) - [Courses](https://corporatefinanceinstitute.com/collections/) - [About CFI](https://corporatefinanceinstitute.com/about-cfi/) - [Pricing](https://corporatefinanceinstitute.com/pricing/) - [Resources](https://corporatefinanceinstitute.com/resources/) - [Pricing](https://corporatefinanceinstitute.com/?page_id=207142) - [Why CFI Certifications?](https://corporatefinanceinstitute.com/cfi-for-teams/certified-professionals/) [My Dashboard](https://learn.corporatefinanceinstitute.com/dashboard) [Log In](https://learn.corporatefinanceinstitute.com/auth/login) [Start Free](https://learn.corporatefinanceinstitute.com/auth/registration) [Home](https://corporatefinanceinstitute.com/ "Go to Corporate Finance Institute.") › [Resources](https://corporatefinanceinstitute.com/resources/ "Go to Resources.") › [Equities](https://corporatefinanceinstitute.com/topic/equities/ "Go to the Equities Resource Type archives.") › Bollinger Bands® Table of Contents - [What are Bollinger Bands?](https://corporatefinanceinstitute.com/resources/equities/bollinger-bands/#what-are-bollinger-bands) - [Day Trading Uptrends With Bollinger Bands](https://corporatefinanceinstitute.com/resources/equities/bollinger-bands/#day-trading-uptrends-with-bollinger-bands) - [Day Trading Downtrends With Bollinger Bands](https://corporatefinanceinstitute.com/resources/equities/bollinger-bands/#day-trading-downtrends-with-bollinger-bands) - [Trading W-Bottoms and M-Tops](https://corporatefinanceinstitute.com/resources/equities/bollinger-bands/#trading-w-bottoms-and-m-tops) - [Limitations of Bollinger Bands](https://corporatefinanceinstitute.com/resources/equities/bollinger-bands/#limitations-of-bollinger-bands) - [Additional Resources](https://corporatefinanceinstitute.com/resources/equities/bollinger-bands/#additional-resources) # Bollinger Bands® Volatility bands placed above and below a moving average Written by [CFI Team](https://corporatefinanceinstitute.com/about-cfi/) Published January 25, 2018 Read Time 5 minutes Over 2.8 million + professionals use CFI to learn accounting, financial analysis, modeling and more. Unlock the essentials of corporate finance with our free resources and get an exclusive sneak peek at the first module of each course. [Start Free](https://learn.corporatefinanceinstitute.com/auth/registration) ## What are Bollinger Bands? Bollinger Bands are a technical analysis tool developed by John Bollinger in the 1980s for trading stocks. The bands comprise a volatility indicator that measures the relative high or low of a security’s price in relation to previous trades. [Volatility](https://corporatefinanceinstitute.com/resources/valuation/market-risk-premium/) is measured using standard deviation, which changes with increases or decreases in volatility. The bands widen when there is a price increase, and narrow when there is a price decrease. Due to their dynamic nature, Bollinger Bands can be applied to the trading of various [securities](https://corporatefinanceinstitute.com/resources/accounting/marketable-securities/). ![Bollinger Bands Chart]() Bollinger Bands are comprised of three lines – the upper, middle, and lower band. The middle band is a moving average, and its parameters are chosen by the trader. The upper and lower bands are positioned on either side of the moving average band. The trader decides the number of standard deviations they need the volatility indicator set at. The number of standard deviations, in turn, determines the distance between the middle band and the upper and lower bands. The position of these bands provides information on how strong the trend is and the potential high and low price levels that may be expected in the immediate future. ## Day Trading Uptrends With Bollinger Bands Bollinger Bands can be used to determine how strongly an asset is rising and when it is potentially reversing or losing strength. If an uptrend is strong enough, it will reach the upper band regularly. An uptrend that reaches the upper band indicates that the stock is pushing higher and traders can exploit the opportunity to make a [buy decision](https://corporatefinanceinstitute.com/resources/career/buy-side-vs-sell-side/). If the price pulls back within the uptrends, and it stays above the middle band and moves back to the upper band, that indicates a lot of strength. Generally, a price in the uptrend should not touch the lower band, and if it does, it is a warning sign for a reverse or that the stock is losing strength. Most [technical traders](https://corporatefinanceinstitute.com/resources/career/equity-trader/) aim to profit from the strong uptrends before a reversal occurs. Once a stock fails to reach a new peak, traders tend to sell the asset at this point to avoid incurring losses from a reversed trend. Technical traders monitor the behavior of an uptrend to know when it shows strength or weakness, and they use this as an indication of a possible trend reversal. ## Day Trading Downtrends With Bollinger Bands Bollinger Bands can be used to determine how strongly an asset is falling and when it is potentially reversing to an upside trend. In a strong downtrend, the price will run along the lower band, and this shows that selling activity remains strong. But if the price fails to touch or move along the lower band, it is an indication that the downtrend may be losing momentum. When there are price pullbacks (highs), and the price stays below the middle band and then moves back to the lower band, it is an indication of a lot of downtrend strength. In a downtrend, prices should not break above the upper band since this would indicate that the trend may be reversing, or it is slowing. Many traders avoid trading during downtrends, other than looking for an opportunity to buy when the trend begins to change. The downtrend can last for short or long durations – either minutes, hours, weeks, days, months, or even years. Investors must identify any sign of downtrends early enough to protect their investments. If the lower bands show a steady downtrend, traders must be cautious to avoid entering into long trades that will prove unprofitable. ## Trading W-Bottoms and M-Tops W-Bottoms and M-Tops were part of Arthur Merrill’s work that identifies 16 patterns with a basic W-Pattern and M-Pattern, respectively. Bollinger Bands use W patterns to identify W-Bottoms when the second low is lower than the first low but holds above the lower band. It occurs when a reaction low forms close to or below the lower band. The price then pulls back towards the middle band or higher and creates a new price low that holds the lower band. When the price moves above the high of the first pullback, the W-button is in place as shown in the figure below, and indicates that the price will likely rise to a new high. ![Bollinger Bands - Trading W-Bottoms and M-Tops]() Source: Stockcharts.com John Bollinger used the M patterns with Bollinger Bands to identify M-Tops. In its basic form, an M-Top is similar to a Double Top chart pattern. An M-Top occurs when there is a reaction that moves close to or above the upper band. The price then pulls back towards the middle band or lower and creates a new price high, but does not close above the upper band. If the price then moves below the low of the prior pullback, the M-Top is in place as shown in the figure below. ![Bollinger - Chart]() Source: Stockcharts.com ## Limitations of Bollinger Bands Although Bollinger Bands are helpful tools for technical traders, there are a few limitations that traders should consider before using them. One of these limitations is that Bollinger Bands are primarily reactive, not predictive. The bands will react to changes in price movements, either uptrends or downtrends, but will not predict prices. In other words, like most technical indicators, Bollinger Bands are a lagging indicator. This is because the tool is based on a simple moving average, which takes the average price of several price bars. Although traders may use the bands to gauge the trends, they cannot use the tool alone to make price predictions. John Bollinger, the Bollinger Bands’ developer, recommends that traders should use the system along with two or three non-correlated tools that provide more direct [market signals.](https://www.bloomberg.com/view/articles/2016-08-17/market-signals-just-aren-t-what-they-used-to-be) Another limitation of Bollinger Bands is that the standard settings will not work for all traders. Traders must find settings that allow them to set guidelines for specific stocks that they are trading. If the selected band settings fail to work, traders may alter the settings or use a different tool altogether. The effectiveness of Bollinger Bands varies from one market to another, and traders may need to adjust the settings even if they are trading the same security over a period of time. To learn more about Bollinger Bands, visit <https://www.bollingerbands.com/> ## Additional Resources Thank you for reading CFI’s guide on Bollinger Bands®. To keep advancing your career, the additional CFI resources below will be useful: - [Trading Channels](https://corporatefinanceinstitute.com/resources/career-map/sell-side/capital-markets/trading-channel/) - [Stock Investment Strategies](https://corporatefinanceinstitute.com/resources/career-map/sell-side/capital-markets/stock-investment-strategies/) - [Speed Lines – A Technical Analysis](https://corporatefinanceinstitute.com/resources/career-map/sell-side/capital-markets/speed-lines-technical-analysis/) - [Trade Order Timing](https://corporatefinanceinstitute.com/resources/career-map/sell-side/capital-markets/trade-order-timing/) - [See all equities resources](https://corporatefinanceinstitute.com/topic/equities/) - [See all capital markets resources](https://corporatefinanceinstitute.com/topic/capital-markets/) Get Certified for Capital Markets (CMSA®) From equities and fixed income to derivatives, the CMSA certification bridges the gap from where you are now to where you want to be — a world-class capital markets analyst. 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Readable Markdown	Volatility bands placed above and below a moving average Published January 25, 2018 Read Time 5 minutes Over 2.8 million + professionals use CFI to learn accounting, financial analysis, modeling and more. Unlock the essentials of corporate finance with our free resources and get an exclusive sneak peek at the first module of each course. [Start Free](https://learn.corporatefinanceinstitute.com/auth/registration) ## What are Bollinger Bands? Bollinger Bands are a technical analysis tool developed by John Bollinger in the 1980s for trading stocks. The bands comprise a volatility indicator that measures the relative high or low of a security’s price in relation to previous trades. [Volatility](https://corporatefinanceinstitute.com/resources/valuation/market-risk-premium/) is measured using standard deviation, which changes with increases or decreases in volatility. The bands widen when there is a price increase, and narrow when there is a price decrease. Due to their dynamic nature, Bollinger Bands can be applied to the trading of various [securities](https://corporatefinanceinstitute.com/resources/accounting/marketable-securities/). ![Bollinger Bands Chart](https://cdn.corporatefinanceinstitute.com/assets/bollinger-bands-chart.png) Bollinger Bands are comprised of three lines – the upper, middle, and lower band. The middle band is a moving average, and its parameters are chosen by the trader. The upper and lower bands are positioned on either side of the moving average band. The trader decides the number of standard deviations they need the volatility indicator set at. The number of standard deviations, in turn, determines the distance between the middle band and the upper and lower bands. The position of these bands provides information on how strong the trend is and the potential high and low price levels that may be expected in the immediate future. ## Day Trading Uptrends With Bollinger Bands Bollinger Bands can be used to determine how strongly an asset is rising and when it is potentially reversing or losing strength. If an uptrend is strong enough, it will reach the upper band regularly. An uptrend that reaches the upper band indicates that the stock is pushing higher and traders can exploit the opportunity to make a [buy decision](https://corporatefinanceinstitute.com/resources/career/buy-side-vs-sell-side/). If the price pulls back within the uptrends, and it stays above the middle band and moves back to the upper band, that indicates a lot of strength. Generally, a price in the uptrend should not touch the lower band, and if it does, it is a warning sign for a reverse or that the stock is losing strength. Most [technical traders](https://corporatefinanceinstitute.com/resources/career/equity-trader/) aim to profit from the strong uptrends before a reversal occurs. Once a stock fails to reach a new peak, traders tend to sell the asset at this point to avoid incurring losses from a reversed trend. Technical traders monitor the behavior of an uptrend to know when it shows strength or weakness, and they use this as an indication of a possible trend reversal. ## Day Trading Downtrends With Bollinger Bands Bollinger Bands can be used to determine how strongly an asset is falling and when it is potentially reversing to an upside trend. In a strong downtrend, the price will run along the lower band, and this shows that selling activity remains strong. But if the price fails to touch or move along the lower band, it is an indication that the downtrend may be losing momentum. When there are price pullbacks (highs), and the price stays below the middle band and then moves back to the lower band, it is an indication of a lot of downtrend strength. In a downtrend, prices should not break above the upper band since this would indicate that the trend may be reversing, or it is slowing. Many traders avoid trading during downtrends, other than looking for an opportunity to buy when the trend begins to change. The downtrend can last for short or long durations – either minutes, hours, weeks, days, months, or even years. Investors must identify any sign of downtrends early enough to protect their investments. If the lower bands show a steady downtrend, traders must be cautious to avoid entering into long trades that will prove unprofitable. ## Trading W-Bottoms and M-Tops W-Bottoms and M-Tops were part of Arthur Merrill’s work that identifies 16 patterns with a basic W-Pattern and M-Pattern, respectively. Bollinger Bands use W patterns to identify W-Bottoms when the second low is lower than the first low but holds above the lower band. It occurs when a reaction low forms close to or below the lower band. The price then pulls back towards the middle band or higher and creates a new price low that holds the lower band. When the price moves above the high of the first pullback, the W-button is in place as shown in the figure below, and indicates that the price will likely rise to a new high. ![Bollinger Bands - Trading W-Bottoms and M-Tops](https://cdn.corporatefinanceinstitute.com/assets/bollinger-bands.png) Source: Stockcharts.com John Bollinger used the M patterns with Bollinger Bands to identify M-Tops. In its basic form, an M-Top is similar to a Double Top chart pattern. An M-Top occurs when there is a reaction that moves close to or above the upper band. The price then pulls back towards the middle band or lower and creates a new price high, but does not close above the upper band. If the price then moves below the low of the prior pullback, the M-Top is in place as shown in the figure below. ![Bollinger - Chart](https://cdn.corporatefinanceinstitute.com/assets/bollinger-bands1.png) Source: Stockcharts.com ## Limitations of Bollinger Bands Although Bollinger Bands are helpful tools for technical traders, there are a few limitations that traders should consider before using them. One of these limitations is that Bollinger Bands are primarily reactive, not predictive. The bands will react to changes in price movements, either uptrends or downtrends, but will not predict prices. In other words, like most technical indicators, Bollinger Bands are a lagging indicator. This is because the tool is based on a simple moving average, which takes the average price of several price bars. Although traders may use the bands to gauge the trends, they cannot use the tool alone to make price predictions. John Bollinger, the Bollinger Bands’ developer, recommends that traders should use the system along with two or three non-correlated tools that provide more direct [market signals.](https://www.bloomberg.com/view/articles/2016-08-17/market-signals-just-aren-t-what-they-used-to-be) Another limitation of Bollinger Bands is that the standard settings will not work for all traders. Traders must find settings that allow them to set guidelines for specific stocks that they are trading. If the selected band settings fail to work, traders may alter the settings or use a different tool altogether. The effectiveness of Bollinger Bands varies from one market to another, and traders may need to adjust the settings even if they are trading the same security over a period of time. To learn more about Bollinger Bands, visit <https://www.bollingerbands.com/> ## Additional Resources Thank you for reading CFI’s guide on Bollinger Bands®. To keep advancing your career, the additional CFI resources below will be useful: - [Trading Channels](https://corporatefinanceinstitute.com/resources/career-map/sell-side/capital-markets/trading-channel/) - [Stock Investment Strategies](https://corporatefinanceinstitute.com/resources/career-map/sell-side/capital-markets/stock-investment-strategies/) - [Speed Lines – A Technical Analysis](https://corporatefinanceinstitute.com/resources/career-map/sell-side/capital-markets/speed-lines-technical-analysis/) - [Trade Order Timing](https://corporatefinanceinstitute.com/resources/career-map/sell-side/capital-markets/trade-order-timing/) - [See all equities resources](https://corporatefinanceinstitute.com/topic/equities/) - [See all capital markets resources](https://corporatefinanceinstitute.com/topic/capital-markets/)
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