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I don't normally have Bollinger Bands on my charts because I find they clutter the charts and distract from the price action. However, I often add them to charts temporarily to see whether the current price is inside or outside the bands. I also like using them when I am developing automatic trading strategies because they are self-scaling.
BenTen said: Someone recently asked if it was possible to plot Bollinger Bands from 15m on the 5m chart. The answer is yes, using this indicator. Example: Displaying the Bollinger Bands of the Hourly chart on the 5m, 15m, or 30m time frame. The indicator is highly configurable and support multi time frame options. Bollinger Band®: A Bollinger Band®, developed by famous technical trader John Bollinger , is plotted two standard deviations away from a simple moving average.