I've been experimenting with Bollinger Bands for entry signals. While they're great for identifying overbought/oversold conditions, I find they're less reliable for predicting exact tops or bottoms without confluence from other indicators like RSI or price action divergences. What are your experiences?
I'm with you on this. Bollinger Bands alone can be a bit of a head-fake for precise turning points. They're definitely better for confirming existing trends or identifying areas of potential exhaustion, rather than pinpointing exact reversals. Always need that extra confirmation.
Interesting. I actually find them quite useful for identifying potential tops/bottoms, especially when you see a squeeze followed by a strong breakout and then a quick snap back into the bands. It's not a standalone signal, for sure, but it's a strong component of my reversal strategy. What timeframe are you mostly using them on?