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Fibonacci Bollinger Bands indicator is a very nice, trustworthy and easy to grasp indicator. (The afl is available on various website, with the candle bar. As for me western bar gives more clear result I`ve channged the code with little effort. I will post Chart and AFL later) Fibonacci Bollinger Band is based on the same principles as the standard Bollinger Bands indicator. The upper and lower bands of Fibonacci Bollinger Bands indicator depends on volatility just like the Bollinger Bands indicator does. There is a difference though, in standard B bands standard deviation is used as the measure of volatility. In Fibonacci B Bands Wilders Smoothed ATR is used.

 Fibonacci trading is a mysterious thing to novice TA followers. But all over the world experieced and professional traders have been using these retracements for years to help identify price sup-port and resistance. For months I have observe that it is very much effective in Dhaka Stock Exchanges (DSE) stocks. But as TA is not practiced here widely, nobody talk about Magic of Fibonacci. Today i just randomly selected three of my favorite stocks and Fibonacci proved again its magic. Formula is not so complex. Major trend has two points : 100 and 0 and here its two dashed lines at top and bottom. At middle are fibonacci points lines. They are generally, 0.382; 0.5; 0.618; 0.786; 1.618; 2.618. In Ranfoundry we can see how price misteriusly went up and down in line with the fibonacci points. Pictures follows: (Agni, Aims, Alhaj and Altex)