BB Strategy tooba

Add It to Your TradingView Chart

1. 1Copy the scriptPress Copy script above, or the copy button on the code below.
2. 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3. 3Paste over the templateCreate a new strategy, select all of the template text and paste. Press Save and give it a name.
4. 4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.

Source Code

24 lines of Pine Script v5 from BB Strategy tooba.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.

//@version=5
strategy("BB Strategy tooba", overlay=true)
source = close
length = input.int(20, minval=1)
mult = input.float(2.0, minval=0.001, maxval=50)
direction = input.int(0, title = "Strategy Direction", minval=-1, maxval=1)
strategy.risk.allow_entry_in(direction == 0 ? strategy.direction.all : (direction < 0 ? strategy.direction.short : strategy.direction.long))
basis = ta.sma(source, length)
dev = mult * ta.stdev(source, length)
upper = basis + dev
lower = basis - dev
if (ta.crossover(source, lower))
    strategy.entry("BBandLE", strategy.long, stop=lower, oca_name="BollingerBands", oca_type=strategy.oca.cancel, comment="BBandLE")
else
    strategy.cancel(id="BBandLE")
if (ta.crossunder(source, upper))
    strategy.entry("BBandSE", strategy.short, stop=upper, oca_name="BollingerBands", oca_type=strategy.oca.cancel, comment="BBandSE")
else
    strategy.cancel(id="BBandSE")
plot(upper,title="upper",color=color.gray, linewidth=1)
plot(lower,title="lower",color=color.gray, linewidth=1)
plot(basis,title="lower",color=color.orange, linewidth=1)
//plot(strategy.equity, title="equity", color=color.red, linewidth=2, style=plot.style_areabr)
Expand (24 lines)

Overview

BB Strategy tooba calculates a simple moving average basis along with standard deviation bands. When the closing price crosses above the lower band, it places a long stop order, and when price crosses below the upper band, it places a short stop order. Users can configure the moving average length, multiplier, and allowed trading direction. The script lacks explicit stop-loss and take-profit orders, relying entirely on opposing entries to reverse positions.

• Bollinger Bands volatility calculations
• Configurable trade direction filter
• Stop order entries with one-cancels-all groups
• Overlay plots for upper, lower, and baseline bands

Details

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

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