This strategy executes pullback trades based on internally computed Bollinger Bands and candle price action directly on the main price chart. It tracks breakout and pullback states to trigger long and short entries. Users can select among three distinct take p
Strategy · Pine Script v4 · On the chart
Bollinger Bands Divergence [Alorse]
Calculates standard Bollinger Bands and identifies band expansion breakouts where upper and lower bands move in opposite directions.
GitHub stars330on the repository
Pine versionv4older, still runs
Lines of code46
Settings7inputs
LicenceNone stated
Last update2 months ago25 Aug 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 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
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Bollinger Bands Divergence [Alorse] enters long positions when price breaks above the upper band with a high candle body percentage, and enters short positions on a break below the lower band during expansion. Long trades exit when price closes below the middle basis line, while short trades exit when price closes above it. Main settings adjust band period, standard deviation multiplier, and candle percentage thresholds. There is no defined stop loss.
- Bollinger Band volatility expansion logic
- Candle body percentage threshold filter
- Basis line trailing exits
- Color-coded visual band plotting and background fills
Details
Published by
Alorse on GitHub
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Volatility & bands, Breakout, Mean reversion, Divergence
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
Topics
pinescriptpinescript-indicatorspinescript-strategiestrading-strategiestradingviewtradingview-alerttradingview-strategy
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Period Bollindger Bands | int | 20 | length |
| mult | float | 2.0 | mult |
| Source | source | close | src |
| Time-based stop length | int | 20 | timeStop |
| Offset | int | 0 | offset |
| Candle % below the lower BB | float | 30 | candleper |
| Take profit after (%) | float | 5 | tp |
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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