This mean-reversion strategy plots Bollinger Bands and a long-term moving average directly on the price chart. It enters trades when price candles penetrate the outer Bollinger Bands beyond a user-defined body percentage, anticipating a price reversal. Entries
Strategy · Pine Script v5 · On the chart
Bollinger Bands Modified (Stormer)
This strategy plots modified Bollinger Bands and an exponential moving average on the price chart.
GitHub stars106on the repository
Pine versionv5runs as is
Lines of code114
Settings10inputs
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
114 lines of Pine Script v5 from Bollinger Bands Modified (Stormer).pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
// This close code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © AugustoErni
//@version=5
strategy('Bollinger Bands Modified (Stormer)', overlay=true, process_orders_on_close=true, calc_on_every_tick=false, calc_on_order_fills=false, initial_capital=10000, currency=currency.USD, default_qty_type=strategy.percent_of_equity, default_qty_value=10, pyramiding=0, commission_type=strategy.commission.percent, commission_value=0.12)
bbL = input.int(20, title='BB Length/Comprimento da Banda de Bollinger', minval=1, step=1, tooltip='Calculate the length of bollinger bands./Calcula o comprimento das bandas de bollinger.')
mult = input.float(0.38, title='BB Standard Deviation/Desvio Padrão da Banda de Bollinger', minval=0.01, step=0.01, tooltip='Calculate the standard deviation of bollinger bands./Calcula o desvio padrão das bandas de bollinger.')
emaL = input.int(80, title='EMA Length/Comprimento da Média Móvel Exponencial', minval=1, step=1, tooltip='Calculate the length of EMA./Calcula o comprimento da EMA.')
highestHighL = input.int(7, title='Highest High Length/Comprimento da Alta Maior', minval=1, step=1, tooltip='Fetches the highest high candle from length input. Use to set stop loss for short position./Obtém a vela de maior alta com base na medida fornecida. Usa para definir o stop loss para uma posição curta.')
lowestLowL = input.int(7, title='Lowest Low Length/Comprimento da Baixa Menor', minval=1, step=1, tooltip='Fetches the lowest low candle from length input. Use to set stop loss for long position./Obter a vela de menor baixa com base na medida fornecida. Usa para definir o stop loss para uma posição longa.')
targetFactor = input.float(1.6, title='Target Take Profit/Objetivo de Lucro Alvo', minval=0.1, step=0.1, tooltip='Calculate the take profit factor when entry position./Calcula o fator do alvo lucro ao entrar na posição.')
emaTrend = input.bool(true, title='Check Trend EMA/Verificar Tendência da Média Móvel Exponencial', tooltip='Use EMA as trend verify for opening position./Usa a EMA como verificação de tendência para abrir posição.')
crossoverCheck = input.bool(false, title='Add Another Crossover Check/Adicionar Mais uma Verificação de Cruzamento Superior', tooltip='This option is to add one more veryfication attempt to check if price is crossover upper bollinger band./Esta opção é para adicionar uma verificação adicional para avaliar se o preço cruza a banda superior da banda de bollinger.')
crossunderCheck = input.bool(false, title='Add Another Crossunder Check/Adicionar Mais uma Verificação de Cruzamento Inferior', tooltip='This option is to add one more veryfication attempt to check if price is crossunder lower bollinger band./Esta opção é para adicionar uma verificação adicional para avaliar se o preço cruza a banda inferior da banda de bollinger.')
insideBarPatternCheck = input.bool(true, title='Show Inside Bar Pattern/Mostrar Padrão de Inside Bar', tooltip='This option is to show possible inside bar pattern./Esta opção é para mostrar um possível padrão de inside bar.')
[middle, upper, lower] = ta.bb(close, bbL, mult)
ema = ta.ema(close, emaL)
highestHigh = ta.highest(high, highestHighL)
lowestLow = ta.lowest(low, lowestLowL)
isCrossover = ta.crossover(close, upper) ? 1 : 0
isCrossunder = ta.crossunder(close, lower) ? 1 : 0
isPrevBarHighGreaterCurBarHigh = high[1] > high ? 1 : 0
isPrevBarLowLesserCurBarLow = low[1] < low ? 1 : 0
isInsideBar = isPrevBarHighGreaterCurBarHigh and isPrevBarLowLesserCurBarLow ? 1 : 0
isBarLong = ((close - open) > 0) ? 1 : 0
isBarShort = ((close - open) < 0) ? 1 : 0
isLongCross = crossoverCheck ? ((isBarLong and not isBarShort) and (open < upper and close > upper)) ? 1 : 0 : isCrossover ? 1 : 0
isShortCross = crossunderCheck ? ((isBarShort and not isBarLong) and (close < lower and open > lower)) ? 1 : 0 : isCrossunder ? 1 : 0
isCandleAboveEma = close > ema ? 1 : 0
isCandleBelowEma = close < ema ? 1 : 0
isLongCondition = emaTrend ? isLongCross and isCandleAboveEma ? 1 : 0 : isLongCross
isShortCondition = emaTrend ? isShortCross and isCandleBelowEma ? 1 : 0 : isShortCross
isPositionNone = strategy.position_size == 0 ? 1 : 0
isPositionLong = strategy.position_size > 0 ? 1 : 0
isPositionShort = strategy.position_size < 0 ? 1 : 0
var float enterLong = 0.0
var float stopLossLong = 0.0
var float targetLong = 0.0
var float enterShort = 0.0
var float stopLossShort = 0.0
var float targetShort = 0.0
var bool isLongEntry = false
var bool isShortEntry = false
if (isPositionNone)
isLongEntry := false
isShortEntry := false
enterLong := 0.0
stopLossLong := 0.0
targetLong := 0.0
enterShort := 0.0
stopLossShort := 0.0
targetShort := 0.0
if (isPositionShort or isPositionNone)
isLongEntry := false
enterLong := 0.0
stopLossLong := 0.0
targetLong := 0.0
if (isPositionLong or isPositionNone)
isShortEntry := false
enterShort := 0.0
stopLossShort := 0.0
targetShort := 0.0
if (isPositionLong and isLongEntry)
isLongEntry := true
isShortEntry := false
enterShort := 0.0
stopLossShort := 0.0
targetShort := 0.0
if (isPositionShort and isShortEntry)
isShortEntry := true
isLongEntry := false
enterLong := 0.0
stopLossLong := 0.0
targetLong := 0.0
if (isLongCondition and not isLongEntry)
isLongEntry := true
enterLong := close
stopLossLong := lowestLow
targetLong := (enterLong + (math.abs(enterLong - stopLossLong) * targetFactor))
alertMessage = '{ "side/lado": "buy", "entry/entrada": ' + str.tostring(enterLong) + ', "stop": ' + str.tostring(stopLossLong) + ', "target/alvo": ' + str.tostring(targetLong) + ' }'
alert(alertMessage)
strategy.entry('Long', strategy.long)
strategy.exit('Exit Long', 'Long', stop=stopLossLong, limit=targetLong)
if (isShortCondition and not isShortEntry)
isShortEntry := true
enterShort := close
stopLossShort := highestHigh
targetShort := (enterShort - (math.abs(enterShort - stopLossShort) * targetFactor))
alertMessage = '{ "side/lado": "sell", "entry/entrada": ' + str.tostring(enterShort) + ', "stop": ' + str.tostring(stopLossShort) + ', "target/alvo": ' + str.tostring(targetShort) + ' }'
alert(alertMessage)
strategy.entry('Short', strategy.short)
strategy.exit('Exit Short', 'Short', stop=stopLossShort, limit=targetShort)
plot(upper, title='Upper Band', color=color.blue)
plot(middle, title='Middle Band', color=color.gray)
plot(lower, title='Lower Band', color=color.blue)
plot(ema, title='EMA', color=color.white)
barcolor(insideBarPatternCheck and isInsideBar and isBarLong ? color.lime : insideBarPatternCheck and isInsideBar and isBarShort ? color.maroon : na, title='Inside Bar Color in Long Bar Long and in Short Bar Short/Cor do Inside Bar em Barra Longa Longa e em Barra Curta Curta')
tablePosition = position.bottom_right
tableColumns = 2
tableRows = 5
tableFrameWidth = 1
tableBorderColor = color.gray
tableBorderWidth = 1
tableInfoTrade = table.new(position=tablePosition, columns=tableColumns, rows=tableRows, frame_width=tableFrameWidth, border_color=tableBorderColor, border_width=tableBorderWidth)
table.cell(table_id=tableInfoTrade, column=0, row=0)
table.cell(table_id=tableInfoTrade, column=1, row=0)
table.cell(table_id=tableInfoTrade, column=0, row=1, text='Entry Side/Lado da Entrada', text_color=color.white)
table.cell(table_id=tableInfoTrade, column=0, row=2, text=isLongEntry ? 'LONG' : isShortEntry ? 'SHORT' : 'NONE/NENHUM', text_color=color.yellow)
table.cell(table_id=tableInfoTrade, column=1, row=1, text='Entry Price/Preço da Entrada', text_color=color.white)
table.cell(table_id=tableInfoTrade, column=1, row=2, text=isLongEntry ? str.tostring(enterLong) : isShortEntry ? str.tostring(enterShort) : 'NONE/NENHUM', text_color=color.blue)
table.cell(table_id=tableInfoTrade, column=0, row=3, text='Take Profit Price/Preço Alvo Lucro', text_color=color.white)
table.cell(table_id=tableInfoTrade, column=0, row=4, text=isLongEntry ? str.tostring(targetLong) : isShortEntry ? str.tostring(targetShort) : 'NONE/NENHUM', text_color=color.green)
table.cell(table_id=tableInfoTrade, column=1, row=3, text='Stop Loss Price/Preço Stop Loss', text_color=color.white)
table.cell(table_id=tableInfoTrade, column=1, row=4, text=isLongEntry ? str.tostring(stopLossLong) : isShortEntry ? str.tostring(stopLossShort) : 'NONE/NENHUM', text_color=color.red)
Expand (135 lines)
Overview
Bollinger Bands Modified (Stormer) watches for closes crossing the upper or lower band, optionally filtered by the EMA trend and extra crossover or crossunder checks. Long stops use the recent lowest low and short stops the recent highest high, while take profit scales the entry distance by a target factor. Size defaults to a percentage of equity with no pyramiding. An optional inside-bar marker can be shown. No market or timeframe is stated.
- Modified Bollinger Bands on price
- EMA trend filter for entries
- Highest-high and lowest-low stops
- Take-profit target factor
- Optional inside-bar pattern display
Details
Published by
hasnocool on GitHub
Code credit
AugustoErni, as written in the script's header
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Volatility & bands, Moving averages, Trend, Candlestick patterns
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Topics
analysisbtcusdtcryptocurrencydatapandaspythonsimulationtradingtradingview
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| BB Length/Comprimento da Banda de Bollinger | int | 20 | bbL |
| BB Standard Deviation/Desvio Padrão da Banda de Bollinger | float | 0.38 | mult |
| EMA Length/Comprimento da Média Móvel Exponencial | int | 80 | emaL |
| Highest High Length/Comprimento da Alta Maior | int | 7 | highestHighL |
| Lowest Low Length/Comprimento da Baixa Menor | int | 7 | lowestLowL |
| Target Take Profit/Objetivo de Lucro Alvo | float | 1.6 | targetFactor |
| Check Trend EMA/Verificar Tendência da Média Móvel Exponencial | bool | true | emaTrend |
| Add Another Crossover Check/Adicionar Mais uma Verificação de Cruzamento Superior | bool | false | crossoverCheck |
| Add Another Crossunder Check/Adicionar Mais uma Verificação de Cruzamento Inferior | bool | false | crossunderCheck |
| Show Inside Bar Pattern/Mostrar Padrão de Inside Bar | bool | true | insideBarPatternCheck |
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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