The Bollinger Band Indicator

Many indicators come free with trading platforms as they have proven to be useful over the course of time. As with most lagging indicators, price action is the basis of the math behind them, and viewing the movements of the candles compared to each other, rather than relying on an indicator is best practice. However, as a filter or set-up indicator, the Bollinger bands can give you a heads up of which assets are about to transition from a compressed range, into an explosive breakout. Having a fundamental catalyst is key though. 

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0:11 AUD/USD