JustUncleL

Bollinger Awesome Alert R1 by JustUncleL

This indicator is an implementation of the Bollinger Band and Awesome Oscillator Scalping system.

This technique is for those who want the most simple method that is very effective. It is BEST traded during the busiest trading hours, 3am to 12am EST NY time. This method doesn't work in sideways markets, only in volatile trending markets.

Time Frames: 1, 5, 10, 15 ,30 min.
Currency pairs: majors.

Other Chart indicators:

Here's the strategy:

Going LONG:
Enter a long position when the black 3 EMA has crossed up through the Bollinger red middle band MA. At the same time, the Awesome should be approaching or crossing it's zeroline, going up. This is indicated by "Buy" alert.

Going SHORT:
Enter a short position when the black 3 EMA has crossed down through the Bollinger red middle band MA. At the same time, the Awesome should be approaching or crossing it's zero line, going down. This is indicated by the "Sell" Alert.

Take profit:
10-20 pips depending on pair or When Awesome Oscillator turns a different colour.

HINTS: Best trades tend to occur when price reversing bounce off outer band and outside the Optional Bollinger Squeeze indication.
Notas de prensa:
  • Added optional extra condition that the signal candle close price must stay within the Bollinger Bands. This helps remove some of the oversized signal candles, these candles have a lower success probability.
  • Added Alarm system Alerts for BUY and SELL. This helps with automation, however, if you use the optional BB filter you will not get a complete buy/sell sequence, that is you may get multiple Sell's or Buy's before a change of direction.

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JustUncleL
where can I find this indicator to download on a MT4 chart. Thanks.
Responder
JustUncleL enshepard1
@enshepard1, Pinescript is not compatible to MT4 platform
Responder
Thank you so much! I am happy with this.
Responder
Hola Bro como coloco ese indicador BBAWE
Responder
I just started trading a few months ago and I have a handful of trades under my belt now but this is my favorite tool that I've seen and used. I do my research on the stock and then I use this and watch the trend. Thank you so much for this tool and all of your scripts.
Responder
Hi, is I'm looking to use this with Autoview to automate my trades. Is there any way to add an alert for when the buy/sell signals appear? Thanks
+4 Responder
MDicko123 MDicko123
I'm currently testing out your Bollinger Awesome Alert R1 strategy, it looks great however I'm trying to implement TV alerts for the BUY and SELL alerts. I've added alerts using 'BAWE alert - Breakout Down' for sell alert and 'BAWE alert - Breakout Up' for a buy alert.

The problem seems to be that when a line crosses up or down, both alerts are triggered. I am planning to test this out with a bot however the alerts will only block each other. For some reason, the line crossing up seems to also trigger a down/sell alert and vice versa.

Is there perhaps a workaround this, does the crossing know the difference between going up or down at all?

Thanks for your time, look forward to hearing from you! :)
Responder
JustUncleL MDicko123
@MDicko123, You should only need to add two extra alertcondtion() calls to generate the association alerts for the TradingView Alarm subsystem, something like this after line 113

alertcondition( break_down, title = "BBAWE Down", message = "BBAWE Down" )
alertcondition( break_up, title = "BBAWE Up", message = "BBAWE Up" )
+3 Responder
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