The BBMA Dashboard is a powerful technical analysis tool designed to help traders make more informed decisions in the forex market. This tool utilizes the Bollinger Bands indicator, Moving Averages, and other money and risk management methods to provide traders with a comprehensive trading system. With 29 essential types of setups and signals, traders can customize the dashboard to fit their specific trading style and preferences. In this article, we will explore the features, benefits, and drawbacks of the BBMA Dashboard and provide insights on how traders can best utilize this trading tool in their forex trading strategies.
What is the BBMA Dashboard?
The BBMA Dashboard is a comprehensive technical analysis tool that combines the Bollinger Bands indicator, Moving Averages, and other money and risk management methods such as Stop Loss and Take Profit. With 29 essential types of BBMA system setups and signals, the dashboard provides traders with a wide range of options that can be customized in the settings based on their preferences. The reentry setups included in the dashboard, such as reentry clusters, reentry after CSM, and reentry after CSAK, are designed to help traders re-enter positions when the market moves in their favor. Additionally, setups for CSM, CSAK, and extreme conditions help traders identify potential market reversals or trend continuations.
The filters provided in the dashboard allow traders to customize the setups further by including or excluding specific criteria, such as the MA50, lower timeframe CSM or CSAK as a trigger, distance to the opposite WMA, or Stochastic OB/OS. Traders can also use the BB Squeeze dashboard to identify pairs where Bollinger Bands have squeezed, the BBTouch dashboard to identify when the price touches the Bollinger Bands, and the BB Squeeze Breakout dashboard to identify pairs where a breakout has occurred after a squeeze.
The BBMA Full Map provides a summary of five essential setups in four different timeframes, allowing traders to quickly assess the market’s overall trend and direction. Furthermore, the dashboard includes an auto-trading feature that can execute trades automatically based on the setups and signals generated by the dashboard.
BBMA Dashboard Strategy
The BBMA Dashboard is a versatile tool that allows traders to customize setups and signals based on their preferences. To use this dashboard, it is essential to first understand the principles of each setup or signal. For example, the “Reentry Dashboard” calculates the slope of the moving average and shows a red box as a sell side when the price comes near the MA. Similarly, the “Extreme” Finder Dashboard checks the WMA5 and Bollinger Band position on previous closed bar or current real-time bar. The “REE Dashboard” shows a red color on H1, indicating a reentry sell in H4, Extreme in H1, Extreme in M15. Gray boxes indicate no signal or a ranging market.
To use the BBMA Dashboard effectively, traders should choose a setup and trade according to its signal (buy or sell). It is essential to use good risk management practices, such as setting stop-loss and take-profit levels. The Dashboard provides alerts when the WMAs are touching, when the candle is closing outside of Bollinger Bands, when the WMA5 is outside the Bands, and other aspects and rules of the BBMA system. Multi-timeframe signals are critical and are represented as green and red boxes for each timeframe and asset.
Buy Signal
- Look for a green box on the BBMA Reentry Dashboard indicating a potential reentry opportunity.
- Confirm that the price is touching or crossing the lower Bollinger Band on the BBTouch Dashboard.
- If the above requirements are met, open a long position.
- Set a stop loss a few pips below the entry candle or according to your money management strategy.
- Take profit at a level based on your trading strategy or according to the BBMA Dashboard’s signal.
Sell Signal
- Look for a red box on the BBMA Reentry Dashboard indicating a potential reentry opportunity.
- Confirm that the price is touching or crossing the upper Bollinger Band on the BBTouch Dashboard.
- Look for an orange downward arrow above the price on the BBMA Dashboard.
- If the above requirements are met, open a short position.
- Set a stop loss a few pips above the entry candle or according to your money management strategy.
- Take profit at a level based on your trading strategy or according to the BBMA Dashboard’s signal.
BBMA Dashboard Pros & Cons
Pros
- The BBMA Dashboard is customizable and can be tailored to the trader’s preferences and strategies.
- The Dashboard alerts traders when certain criteria are met, such as when the WMAs are touching, when the candle is closing outside of
- Bollinger Bands, or when the WMA5 is outside the Bands.
- The BBMA Dashboard includes an auto-trading feature that can execute trades based on the setups and signals generated by the Dashboard.
- The Dashboard includes a wide range of setups and signals, allowing traders to identify potential market reversals or trend continuations.
Cons
- The BBMA Dashboard is a technical analysis tool that requires traders to have some knowledge of technical analysis and trading.
- The BBMA Dashboard is not a standalone system, and traders need to have a good understanding of trading concepts and strategies to use it effectively.
- As with any technical analysis tool, the BBMA Dashboard may produce false signals that can result in losses.
- The BBMA Dashboard is not a free tool and requires traders to pay a subscription fee.
Conclusion
In conclusion, the BBMA Dashboard is a powerful technical analysis tool for traders that utilizes the Bollinger Bands indicator, Moving Averages, and other risk management methods. Its various setups and signals can help traders identify potential market reversals or trend continuations, and the customizable filters allow for further customization based on individual preferences. However, as with any trading tool, there are both pros and cons to consider. The BBMA Dashboard’s complexity may require a steep learning curve for some traders, and it should not be relied on as the sole source of trading decisions.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
