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How to setup Bollinger Bands
10.09.2011
The CitiFX Pro platform allows you to utilise a range of different indicator studies that can be overlaid on top of the graph module. In order to select a study go to:
Trading > Charts > 
In this post we will be looking at how you setup and use Bollinger Bands. Bollinger Bands define the lower and upper limits of the standard trading range.
A currency pair is expected to trade within this upper and lower limit as each band represents the predictable range on either side of the moving average. The lines are plotted at standard deviation levels above and below the moving average.
The Bollinger Band indicator can be a very useful trading tool, particularly in determining whether to exit or enter a FX position based on the law of averages.
Setting up Bollinger Bands on the CitiFX Pro platform is nice and easy, and what’s even better is that it’s fully customisable.
The first step is to select the Bollinger Bands indicator option, which will then bring up a menu window (see below). From here you can adjust the default properties from whether you want to display closing price or mid price, right down to the colour and thickness of the lines! You can also adjust the moving average period, and the standard deviation levels.
Once you have selected the properties that best suit you, then click “OK”. The study will then be overlaid on top of the graph (see below).
If you wish to adjust the indicator settings at any point then click on the indicator and select ‘Properties’. You can also delete the study from this menu.
There are also options to adjust the chart itself – if you wish to adjust the timeframe then click on the dropdown menu (see below).
Similarly, you may wish to adjust the chart style – by default the platform uses a candlestick chart, this can be changed by selecting from the drop down menu.
If you wish to save the chart then right-click on the chart, go Chart > export chart, you can also print the chart if you wish to have a hardcopy. The CitiFX Pro platform also allows you to save the indicator as a pre-set button if you wish to use it on a regular basis.