This template contains 4 sets of Bollinger Bands all based on the standard 20/2 -
20/2 is green and very thin (Note: I have the 20midline set as a SMA Colors so
I can see the slope and direction more easily)
60/2 is blue and thin
180/2 is red and thick
540/2 is black and thickest
they work on all time frames. Once you decide on your preferred signal time frame, use a higher time frame for direction (5X or higher) and a smaller time frame for finetuning entries. There is a lot of information held within the BB's both individually and in how they relate to one another. Different ones will have more influence over price at different times and in different markets. (That is really saying it inside out... but visually that's how it seems... actually it would be more correct to say, price momentum and direction are shown clearer by different BB's at different times and in different markets. Frankly it takes a lot of screen time to really understand them and many can't see the forest for the trees because of so many lines on the chart. It may require a good right brain / left brain balance or higher right brain capability.. not sure... but they are clear as day to me.
The reason I like BB's, and specifically multiple levels (but all based on the 20/2) is that they form natural SR levels and natural trend lines. You are still doing price action trading.
The volume is important because if there is a big volume surge into an extreme state, there will often be a big drop following... good time to take profits or for a master trader to fade the move. Likewise if volume gets very low at a support or resistance level in a pullback, it is a sign that price may soon reverse into the higher level direction (a time to reenter or add to the trade depending on your trading style). Volume can mean just the opposite as well... you have to be aware of the context... for instance... in an up move, if it hesitates on low volume and can't seem to push through, then increases on a negative bar, it may be a sign that it isn't going much farther.
I'm attaching a few annotated charts and a basic template.