I'll be looking at this strategy over the next few weeks, in addition to the pps & mfi strategy that I have been using. My concerns about the pps being a proprietary black box are still at the forefront of my thinking, and I'd like to have an alternative.
bb & mfi
If after piercing the Bollinger Band the price both opens and closes in the inter-band area then open the position if the Money Flow Index has reversed in or very near the overbought or oversold line within the last five trading days. Exit upon the reversal of the price from the Bollinger Band moving average or upon the price piercing the opposite Bollinger Band and then reversing back into the inter-band area.
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