Bollinger Bands is a good indicator (its a indicator not a strategy) and I have also used this trading indicator many times in the trading market and I have also used this indicator in the options trading which gave me good results but at last i lost all of the money. I noticed one thing that this indicator doesn't give proper results or direction of the trend when the market is very much volatile because in such conditions the market can change its direction anytime and you just have to observe that.