by 
This strategy plots Bollinger Bands on the price chart with adjustable length, standard deviation, and offset. It defines buy and sell zones using candle size percentage and body size thresholds. Long positions enter when the lower zone is breached without con
Strategy · Pine Script v5 · On the chart
Bollinger Bands Strategy
This strategy executes trades based on price interactions with standard Bollinger Bands plotted on the price chart.
GitHub stars37on the repository
Pine versionv5runs as is
Lines of code20
Settings2inputs
LicenceMIT
Last update3 years ago10 Feb 2023
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
20 lines of Pine Script v5 from Strategies/All Strategies are Here 🤩/Bollinger-Bands-Strategy.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=5
strategy("Bollinger Bands Strategy", overlay=true)
source = close
length = input.int(20, minval=1)
mult = input.float(2.0, minval=0.001, maxval=50)
basis = ta.sma(source, length)
dev = mult * ta.stdev(source, length)
upper = basis + dev
lower = basis - dev
buyEntry = ta.crossover(source, lower)
sellEntry = ta.crossunder(source, upper)
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(strategy.equity, title="equity", color=color.red, linewidth=2, style=plot.style_areabr)
Overview
Bollinger Bands Strategy calculates a simple moving average basis line along with upper and lower standard deviation bands. Long entries are triggered when price crosses above the lower band, while short entries trigger when price crosses below the upper band using One-Cancels-All stop orders. The user can adjust the moving average period and band multiplier. The strategy lacks fixed stop loss or take profit exit rules.
- Bollinger Bands volatility channels
- One-Cancels-All stop entry orders
- Configurable length and standard deviation multiplier
Details
Published by
TWODS-CAPITAL on GitHub
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Volatility & bands, Mean reversion, Moving averages
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
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 |
| mult | float | 2.0 | 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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