oldinvestor

Bollinger Band Strategy (Basic) Version 1

This strategy is for learning purposes only. Pay special attention to these strategies on longer aggregation periods (like 1 hr chart or more). Don't expect accurate results when you set a limit to 10 cents above your entry to be accurate. For example if you set the chart to 1 day, the price may move down and hit a stop 10 times then tag your limit. If this doesn't make sense, just don't use strategies here. Learn more first. That being said, I don't have specific recommendations for each aggregation period, backtesting isn't always perfect.

Now then, this strategy can be used as the traditional BB method by setting the "Stop" and "Limit Out" to like 10000, check "Reversal Entry" and uncheck "Limit Time of Day" This will keep the strategy running just reverse your position when price crosses outside each band.

INPUTS:
Length - length of WMA that I used for mean of Bollinger Band (this may suppose to be SMA , too bad)
Source - O-H-L-C basis for WMA
Deviation - normal Standard deviation that would be set when using Bollinger Band

Trailing stop check box - your stop value will be either a hard stop or trailing stop for an exit
Stop - the stop value - remember you can set this really high and it won't stop out
Limit Out - the limit value for exit

Reversal Entry check box - This changes each entry from a reversal (traditional idea of BB) to enter a trend trade - hopefully version 2 will have choice to trend one direction and reversal in the other.

Limit Time of Day - Especially when trading futures , you may want to only trade a specific time of day, when this box is checked, you can set the entry times below, exit will still only occur based on limit/stop or a flip entry order (the opposite entry condition is met)

Tips:

when I don't know a thing about a price range, like gold . I can set the limit out to 10000 and play with a trailing stop to get a better idea of what is even possible before tuning further.

Script de código abierto

Siguiendo el verdadero espíritu de TradingView, el autor de este script lo ha publicado en código abierto, para que los traders puedan entenderlo y verificarlo. ¡Un hurra por el autor! Puede utilizarlo de forma gratuita, aunque si vuelve a utilizar este código en una publicación, debe cumplir con las Normas internas. Puede marcarlo como favorito para usarlo en un gráfico.

¿Quiere utilizar este script en un gráfico?

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