Bollinger Band Trend Follow Stra…: Free TradingView Strategy (Pine Script)

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

68 lines of Pine Script v5 from strategies/trend-follow/BollingerBandTrendFollow/scripts/BollingerBandTrendFollowStrategy.pinescript, published under MIT. Keep the author's credit and licence lines when you reuse it.

BollingerBandTrendFollowStrategy.pinescript

//@version=5
//@Author: @GeorgeFreelanceDeveloper, @LucyFreelanceDeveloper
strategy("Boillinger Band Trend Follow strategy", overlay=true, margin_long = 10, default_qty_type=strategy.percent_of_equity, default_qty_value=100)

// ********************************
// User defined inputs
// ********************************
var G_BASIC_SETTINGS = "Basic settings"
var G_FILTER_SETTINGS = "Filter settings"
var G_TIME = "Time settings"

length = input.int(defval = 20, title = "Length", group = G_BASIC_SETTINGS)
multiplierUpper = input.int(defval = 1, title = "Upper", step = 1, group = G_BASIC_SETTINGS)
multiplierLower = input.float(defval = 0.5, title = "Lower", step = 1, group = G_BASIC_SETTINGS)

riskPercentage = input.float(defval = 1.00, title = "Risk per trade", step = 0.01, group = G_BASIC_SETTINGS)
atrMultiplier = input.int(defval = 2, title = "ATR multiplier", group = G_BASIC_SETTINGS)
atrLength = input.int(defval = 20, title = "ATR length", group = G_BASIC_SETTINGS)

enableFilter = input.bool(defval = false, title = "Use filter", tooltip = "Filter is close price is above 200 day simple moving average of benchmark", group=G_FILTER_SETTINGS)
benchmarkSymbol = input.symbol(defval = "SPX", title = "Benchmark symbol", group=G_FILTER_SETTINGS)

fromDateTime = input.time(defval = timestamp("1900-01-01T01:01+0000"), title = "From Date and time", group = G_TIME) 
toDateTime = input.time(defval = timestamp("9999-01-01T01:01+0000"), title = "To Date and time", group = G_TIME)


// ********************************
// Functions
// ********************************
tradeDateIsAllowed() => time >= fromDateTime and time <= toDateTime

// **********************************
// Perform calculations and analysis
// **********************************

// Boillinger Bands
centralMA = ta.sma(close, length)
upperBand = ta.sma(close, length) + multiplierUpper * ta.stdev(close, length)
lowerBand = ta.sma(close, length) - multiplierLower * ta.stdev(close, length)

// Filters
benchmarkSymbolClose = request.security(benchmarkSymbol,"1D", close)
filter = enableFilter ? benchmarkSymbolClose[1] >= ta.sma(source = benchmarkSymbolClose, length = 200) : true

// Trade amount
qty = ((riskPercentage/100)*strategy.equity) / (atrMultiplier * ta.atr(atrLength))

buyCondition = ta.crossover(close, upperBand) and tradeDateIsAllowed() and filter
sellCondition = ta.crossunder(close, lowerBand) and tradeDateIsAllowed()

// ********************************
// Draw outputs
// ********************************
plot(centralMA, color = color.blue, linewidth = 2, title = "Central Moving Average")
plot(upperBand, color = color.red, linewidth = 2, title = "Upper Bollinger Band")
plot(lowerBand, color = color.green, linewidth = 2, title = "Lower Bollinger Band")

// ********************************
// Manage trade
// ********************************

// Entry
if (buyCondition) 
    strategy.entry("Long", strategy.long, qty = qty)

// Exit
if (sellCondition)
    strategy.close("Long")

Overview

Bollinger Band Trend Follow Strategy enters long positions when the price crosses above the upper band, provided an optional benchmark trend filter (checking if a symbol like SPX is above its 200-day moving average) is active. Position sizes are calculated dynamically using an ATR-based risk allocation formula. Long positions are closed when the price crosses below the lower band. The strategy lacks a strict stop-loss order, relying solely on band crossovers for exits.

Asymmetric Bollinger Band channels
Benchmark index moving average filter
Dynamic ATR-based position sizing
Customizable backtest date window

Details

Published by

imzeeshan on GitHub

Type

Strategy, Pine Script v5

Draws

On the price chart

Markets

Stocks, Indices

Timeframes

M15-H1, H4 and above

Risk Notes

The strategy enters trades without a stop loss

File

strategies/trend-follow/BollingerBandTrendFollow/scripts/BollingerBandTrendFollowStrategy.pinescript

Repository

github.com/imzeeshan/trend-follow.io. See its other scripts in the library

Settings

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

Setting	Type	Default	Variable
Length	`int`	`20`	`length`
Upper	`int`	`1`	`multiplierUpper`
Lower	`float`	`0.5`	`multiplierLower`
Risk per trade	`float`	`1.00`	`riskPercentage`
ATR multiplier	`int`	`2`	`atrMultiplier`
ATR length	`int`	`20`	`atrLength`
Use filter	`bool`	`false`	`enableFilter`
Benchmark symbol	`symbol`	`SPX`	`benchmarkSymbol`
From Date and time	`time`	`timestamp("1900-01-01T01:01+0000")`	`fromDateTime`
To Date and time	`time`	`timestamp("9999-01-01T01:01+0000")`	`toDateTime`

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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