August 2011
Beginner
281 pages
5h 12m
English
Content preview from Charting Made Simple: A Beginner's Guide to Technical Analysis
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.
Chapter 10: Bollinger bands
In this chapter I’ll discuss Bollinger bands, so named after their inventor John Bollinger. They’re another important charting tool that helps you identify trend changes and overbought and oversold conditions, but in a very different way to any other indicator I’ve outlined.
Bollinger bands are based on the normal distribution so I’ll discuss this first.
Normal distribution
In many circumstances we’re aware of differences in characteristics; for example, that each human being is a unique person. For some things there are no obvious differences and we assume equality; for example, each bottle of the same product on a supermarket shelf may appear exactly the same to us. In reality they’re not — the differences between ...
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