This price-chart strategy plots a simple moving average and upper and lower bands built from the standard deviation of close, scaled by separate offset inputs. It enters a fixed quantity long when close crosses above the upper band and a fixed quantity short w
Strategy · Pine Script v6 · On the chart
Bollinger WMA (Long Only)
This strategy overlays asymmetric Bollinger Bands built on a Weighted Moving Average of hlc3.
GitHub stars4on the repository
Pine versionv6current
Lines of code176
Settings7inputs
LicenceNone stated
Last update5 months ago31 May 2026
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 WMA (Long Only) opens long positions on an upside breakout above the upper band, confirmed by positive momentum and candle structure filters. Positions exit only when the closing price drops below the wide lower band. Key settings adjust the WMA length, the upper entry multiplier, and the lower exit multiplier. It plots directly on the price chart without conventional take-profit or stop-loss orders.
- Asymmetric Bollinger Bands on hlc3 WMA
- Breakout entry confirmation with candle filtering
- Wide lower volatility band exit rule
- Configurable backtest start date and band multipliers
Details
Published by
Jaden300 on GitHub
Type
Strategy, Pine Script v6
Draws
On the price chart
Category
Breakout, Moving averages, Volatility & bands
Markets
Stocks
Timeframes
H4 and above
Risk Notes
- The strategy enters trades without a stop loss
Topics
algorithmic-tradingbacktestingstock-markettradingview-ideas
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Start Date | time | timestamp("2021-01-01") | startDate |
| WMA / BB Length | int | 150 | bbLength |
| Upper Band Mult (entry) | float | 1.0 | stdBuy |
| Lower Band Mult (exit) | float | 3.0 | stdSell |
| Show Signals | bool | true | showSignals |
| Show Bands | bool | true | showBands |
| Color Bars | bool | true | colorBars |
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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