This strategy combines two sets of Bollinger Bands with a Laguerre RSI oscillator plotted on the price chart. It generates buy and sell signals when price touches the upper or lower bands or zones. The strategy allows enabling or disabling entries and includes
Strategy · Pine Script v6 · On the chart
Bollinger Bands
This strategy plots Bollinger Bands directly on the price chart.
GitHub stars1on the repository
Pine versionv6current
Lines of code29
Settings3inputs
LicenceNone stated
Last update1 year ago27 May 2025
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 computes the middle band as the simple moving average of the close price over the input length and the upper and lower bands by multiplying the standard deviation by the multiplier and adding or subtracting from the middle band. Long signals trigger when price crosses below the lower band with a stop loss placed at the lower band; short signals trigger on crossover above the upper band with a stop loss at the upper band. The strategy cancels the opposite position on each new signal and uses fixed-percentage equity position sizing. Settings adjust the period, deviation multiplier, and trade direction. No take-profit rules exist beyond the band-based stop loss.
- Bollinger Bands
- SMA middle band
- band deviation signals
- long short entries
- stop loss exits
Details
Published by
Studentcodee on GitHub
Type
Strategy, Pine Script v6
Draws
On the price chart
Category
Volatility & bands, Moving averages, Support & resistance, Mean reversion
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 | 30 | length |
| mult | float | 3.0 | mult |
| Strategy Direction | int | 0 | direction |
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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