Calculates standard Bollinger Bands and identifies band expansion breakouts where upper and lower bands move in opposite directions. It enters long positions when price breaks above the upper band with a high candle body percentage, and enters short positions
Strategy · Pine Script v4 · On the chart
Bollinger Blast Buy
This strategy plots an asymmetric Bollinger envelope on the price chart.
GitHub stars106on the repository
Pine versionv4older, still runs
Lines of code25
Settings4inputs
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
25 lines of Pine Script v4 from Bollinger Blast Buy Unholy Grail.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
//@version=4
// strategy "bollinger-band-trading-strategy" taken from bettersystemtrader.com
// Entry: Buy on the Open the day after a stock closes above the top Bollinger Band
// Exit: Exit on the Open the day after a stock closes below the lower Bollinger Band
// In Nicks book, he uses 100 period Bollinger Bands so we’ll do the same. The upper Bollinger Band will be 3 deviations from the central line, the lower Bollinger Band will be 1 deviation below the central line.
// money management added
strategy(title = "Bollinger Blast Buy Unholy Grail",calc_on_order_fills=false,calc_on_every_tick =false, initial_capital=20000,commission_value=.25,overlay = true,default_qty_type = strategy.cash, default_qty_value = 20000)
period=input(10, title="Bollinger period", minval = 5, step =5)
multipup=input(3, title="Boll multipler up", minval= 0.1)
multidown = input(1, title="Boll multipler up", minval= 0.1)
stop_loss=input(10, "Stop loss %", minval = 1, step = 1)
bollup = sma(close,period)+stdev(close,period)*multipup
bolldo = sma(close, period)-stdev(close,period)*multidown
//entry
entry = crossover(close,bollup)
strategy.entry("Long", true, when = entry)
exitup = crossunder(close,bolldo)
strategy.close("Long", when = exitup, comment ="cLOSE up")
sl = -1*stop_loss/100*strategy.initial_capital
close_Stop = strategy.openprofit < sl
strategy.close("Compra", when = close_Stop, comment= "Stop loss")
b1 = plot(bollup, title = "Boll+")
b2= plot(bolldo, title = "Boll-")
fill(b1, b2, color=color.purple)
Expand (25 lines)
Overview
The upper band is a simple moving average plus a larger standard-deviation multiple, and the lower band uses a smaller multiple. It enters long when close crosses above the upper band and closes that long when close crosses below the lower band. A percent stop input exists, but the stop closes a different order id than the entry, so it may not exit the position. Period and both multipliers are adjustable.
- Asymmetric Bollinger bands
- Long entry on upper-band crossover
- Exit on lower-band crossunder
- Percent stop input
- Purple band fill on the chart
Details
Published by
hasnocool on GitHub
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Volatility & bands, Breakout
Markets
Stocks
Timeframes
H4 and above
Risk Notes
- The strategy enters trades without a stop loss
Topics
analysisbtcusdtcryptocurrencydatapandaspythonsimulationtradingtradingview
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Bollinger period | int | 10 | period |
| Boll multipler up | int | 3 | multipup |
| Boll multipler up | int | 1 | multidown |
| Stop loss % | int | 10 | stop_loss |
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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