This strategy overlays a trend moving average and Supertrend bands directly on the price chart while calculating Stochastic RSI values internally. Long positions trigger when price exceeds the moving average, Supertrend signals bullish momentum, and the StochR
Strategy · Pine Script v4 · On the chart
Bollinger Band Breakout
Bollinger Band Breakout is a positional strategy combining Bollinger Bands with the Relative Strength Index (RSI).
GitHub stars106on the repository
Pine versionv4older, still runs
Lines of code32
Settings2inputs
LicenceGPL-3.0
Last update2 years ago18 Sep 2024
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new strategy, select all of the template text and paste. Press Save and give it a name.
- 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
32 lines of Pine Script v4 from Bollinger Band Breakout Positional Strategy- BN -15M.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
//@version=4
strategy(title="Bollinger Band Breakout", shorttitle = "BB-Stoxguru",default_qty_type = strategy.percent_of_equity,default_qty_value = 100, overlay=true)
source = close
start = timestamp (2007, 1,1,0,0)
end = timestamp (2021,11,05,0,0)
stop_level = (high[1]-low[1])
profit_level = (high[1]-low[1])
length = input(20, minval=1, title = "Period") //Length of the Bollinger Band
mult = input(2, minval=0.001, maxval=50, title = "Standard Deviation")
basis = sma(source, length)
dev = mult * stdev(source, length)
upper = basis + dev
lower = basis - dev
band=upper-lower
stop_loss=low-atr(14)
if time >= start
// and time < end
strategy.entry("Long", strategy.long, when = crossover(source, upper) and rsi(close,14)>=60 and rsi(close,14)<=70)
// strategy.entry("Long", strategy.long, when = crossover(source, upper) and rsi(close,14)>60 and band<200)
// strategy.exit("SL", "Long", stop=stop_loss)
strategy.close(id="Long", when=crossunder(close, basis))
strategy.entry("Short", strategy.short, when = crossunder(source, lower) and rsi(close,14)<=40 and rsi(close,14)>=35)
strategy.close(id="Short", when=crossover(close, basis))
// strategy.entry("Short", strategy.short, when = crossunder(source, lower) and rsi(close,14)<40 and band<200)
// plot(upper-lower, color=color.purple,title= "DIFF",style=plot.style_linebr)
plot(basis, color=color.red,title= "SMA")
p1 = plot(upper, color=color.blue,title= "UB")
p2 = plot(lower, color=color.blue,title= "LB")
// fill(p1, p2)
BW = ((upper - lower)) / basis * 100
plot(BW, title="Bollinger bandwidth", color=color.red)
Expand (36 lines)
Overview
Bollinger Band Breakout opens long positions when price crosses above the upper Bollinger Band while 14-period RSI is between 60 and 70. Short entries trigger when price crosses below the lower band while RSI is between 35 and 40. Positions close when price crosses back over the middle basis SMA line. The strategy plots Bollinger Bands and bandwidth directly on the main price chart. Note that default hard stop loss rules are commented out in the code.
- Bollinger Band breakout entry signals
- RSI filter for trade confirmation
- Basis SMA line exit logic
- Bollinger bandwidth calculation
Details
Published by
hasnocool on GitHub
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Volatility & bands, Oscillators & momentum, Trend, Moving averages
Markets
Indices
Timeframes
M15-H1
Risk Notes
- The strategy enters trades without a stop loss
Topics
analysisbtcusdtcryptocurrencydatapandaspythonsimulationtradingtradingview
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Period | int | 20 | length |
| Standard Deviation | int | 2 | mult |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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