Bollinger band defines volatility range based on the current market condition. If a full candle is created outside BB then it is highly volatile and it may reverse to the mean, i.e. middle BB.
Buy - when a green candle is created below lower BB (alert candle) and price goes above high of it. Buy SL - low of alert candle Target 1 - middle band Target 2- upper band
Sell - when a red candle is cerated above upper BB (alert candle) and price goes below low of it Sell SL - high of alert candle Target 1 - middle band Target 2 - lower band
************************************************************************************************************************************************************************************ Disclaimer: This is in-progress strategy. I plan to work further and improve this. So please use this in the live market very carefully and based on your own risk factors. ************************************************************************************************************************************************************************************
リリースノート
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There was an issue with intraday exit feature due to which it was not working on timeframes other than 15 min. Now it is resolved. It should work fine now for minutes and hourly timeframes if exit intraday option is marked.
リリースノート
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1. Added a control "Risk Limit (%)" to limit entries if SL is more than the defined risk %. 2. Fixed an issue with the control to define "Entry Distance From Alert". 3. Fixed an issue which was causing multiple exists due to pending orders not being cancelled.
Upcoming feature: 1. Improved exit rule - 50% quantity will exit at middle band and remaining 50% will exit at upper/ lower band.
リリースノート
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Exit enhanced - 1. Target options given - (a) BB - 50% quantity will be booked at middle BB and rest of it will be booked at outer BB. (b) Profit % - A target percenage mentioned in the box "Profit %" will be used to exit the full trade.
How about adding another exit condition like "Exit after 0.5% Profit" ?
Bishnu103
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@tanufame, Thanks for sharing your feedback. I will try to add an option to control profit %.
SirFreddo
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@Bishnu103, Really great Script. Is it possible to add an alarm that goes to your email when its outside the BB? Hasent been able to get the alarm function to work.
Cheers,
Fredrik
Bishnu103
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@SirFreddo, Hi Fredrik ... suggestion noted. I am a programer but new to pine script, haven't worked with alarm feature yet. I will explore as time permits. Thanks.
narpaviKarthik
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Excellent Bro,
If possible to add customization for color different for outside untouched candle. Like if untouched candle upper or lower line then the candle color can be customize-able in settings. Great work bro... super...
tarunnagar13
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BRO PLZ GIVE ME YOUR NO. I WANT TO LEARN HOW TO DO MAKE SCRIPT THROUGH CODING
That was a wonderful script.
How about adding another exit condition like "Exit after 0.5% Profit" ?