John Bollinger mentions in his book that candles closing outside the BBs are not a sign of reversal, but a sign of continuation – until such time as a tag of the band is correlated with another indicator or candle reversal pattern.
I wanted to incorporate ‘walking the bands’ into a reversal trigger on minute charts, by using a scenario where 4 out of 5 recent candles have highs outside the band, followed by a close inside the bands.
The BB values need to be adjustable instead of 20/2.0, as JB himself states that short term traders look at values down to 15/1.5. Myself I use 16/1.8.
Below was my start, but I think it needs some expertise to make it work