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 v5 · On the chart
Bollinger Breakout Strategy
A long and short strategy using a long simple moving average with bands set a chosen number of standard deviations above and below it, 350 bars by default.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code52
Settings6inputs
LicenceNone stated
Last update2 years ago11 Aug 2024
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 Breakout Strategy goes long when price closes above the upper band and exits when price falls back under the average; it goes short below the lower band and exits when price rises back over the average. Position size can be a fixed one or derived from a risk percentage of equity divided by ATR value. It has no stop loss.
- Mean line with upper and lower deviation bands
- Breakout entries in both directions
- Exit on cross of the mean line
- ATR and equity based position sizing option
- Commission and slippage assumptions
Details
Published by
JoeTonDev on GitHub
Type
Draws
On the price chart
Category
Markets
Any symbol
Timeframes
H4 and above
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 |
|---|---|---|---|
| SMA Lenght | int | 350 | smaValues |
| STD Lenght | int | 350 | stdLength |
| Upper Band Offset | float | 2.5 | ubOffset |
| Lower Band Offset | float | 2.5 | lbOffset |
| Use Position Size? | bool | true | usePosSize |
| Risk % | float | 0.5 | riskPerc |
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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