Any timescale of the chart can be used with Bollinger Bands, including weekly, daily, and five-minute forecasts. Various trading strategies can be accommodated by the variables. If the instrument's price advances near to the top band, it usually indicates that it has been overbought. In general, traders consider selling whenever they perceive a trading instrument has become overbought. If the price of the instruments is near the bottom band, it indicates that it is oversold. Traders are usually looking for securities that are oversold.