This strategy combines Larry Williams' Vix Fix synthetic volatility indicator with Bollinger Bands. It calculates standard and inverted Williams Vix Fix metrics, displaying them as histogram columns with standard deviation bands in a separate pane. Long entrie
Strategy · Pine Script v4 · Own pane
Bollinger DCA v1
This strategy calculates Bollinger Bands and RSI to trigger dollar-cost averaging buy orders.
GitHub stars106on the repository
Pine versionv4older, still runs
Lines of code42
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
42 lines of Pine Script v4 from Bollinger DCA v1.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
//@version=4
strategy("Bollinger DCA v1", overlay=false)
//user inputs
contribution = input(title="Contribution (USD)",type=input.integer,minval=1,maxval=1000000,step=1,defval=500,confirm=false)
length = input(title="Bollinger (Period)", defval=20, step=1, minval=1)
mult = input(title="Deviations (Float)", defval=2.0, step=0.001, minval=0.001, maxval=50)
rsi_period = input(title="RSI (Period)", defval=14, step=1, minval=1)
//compute bollinger bands
source = close
basis = sma(source, length)
dev = mult * stdev(source, length)
upper = basis + dev
lower = basis - dev
//compute moving averages
ma50 = sma(close,50)
ma100 = sma(close,100)
ma150 = sma(close,150)
ma200 = sma(close,200)
//up_trend = ma50 > ma100 and ma100 > ma150 and ma150 > ma200
//dn_trend = ma50 < ma100 and ma100 < ma150 and ma150 < ma200
//compute rsi
strength = rsi(close, rsi_period)
//plot indicators
//p1 = plot(upper, color=color.gray)
//p2 = plot(lower, color=color.gray)
//fill(p1, p2)
//p3 = plot(ma50, color=color.red)
//p4 = plot(ma100, color=color.blue)
//p5 = plot(ma150, color=color.green)
//p6 = plot(ma200, color=color.orange)
//units to buy
units = contribution / close
//long signal
if (close < lower and strength < 50)
strategy.order("Long", strategy.long, units)
//close long signal
//if (close > upper and strength > 50 and strategy.position_size > 0)
//strategy.order("Close Long", strategy.short, units)
//plot strategy equity
plot(strategy.openprofit, color=color.blue, linewidth=2, title="Open Profit")
Expand (49 lines)
Overview
Bollinger DCA v1 enters long positions whenever the closing price dips below the lower Bollinger Band while the RSI is below 50. Order units are calculated dynamically based on a fixed USD contribution input divided by the current close price. The script plots unrealized open profit in a separate pane. Notably, all exit signals and stop loss rules are disabled or commented out, leaving entered positions open without profit targets or protective stops.
- Bollinger Bands and RSI entry conditions
- USD contribution position sizing
- Separate pane open profit plot
Details
Published by
hasnocool on GitHub
Type
Strategy, Pine Script v4
Draws
Separate pane below the chart
Category
Volatility & bands, Oscillators & momentum, Mean reversion
Markets
Crypto
Timeframes
Any timeframe
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 |
|---|---|---|---|
| Contribution (USD) | int | 500 | contribution |
| Bollinger (Period) | int | 20 | length |
| Deviations (Float) | float | 2.0 | mult |
| RSI (Period) | int | 14 | rsi_period |
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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