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
Greeffer BB Strategy
This strategy fades Bollinger Band extremes on the close.
GitHub stars18on the repository
Pine versionv4older, still runs
Lines of code26
Settings2inputs
LicenceNone statedfile: MPL-2.0
Last update6 years ago15 Oct 2020
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
26 lines of Pine Script v4 from greeffer-bb-strategy.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
//@version=4
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © Greeffer
// 04-11-2020: 1.4% profit in backtests
strategy("Greeffer BB Strategy", "Greeffer", false, format=format.price, scale=scale.right, precision=2, pyramiding=0, default_qty_type=strategy.percent_of_equity, default_qty_value=11, initial_capital=100000, currency=currency.USD, commission_type=strategy.commission.percent, commission_value=0.075, process_orders_on_close=true)
source = close
length = input(20, minval=1)
mult = input(2.0, minval=0.001, maxval=50)
basis = sma(source, length)
dev = mult * stdev(source, length)
upper = basis + dev
lower = basis - dev
if (crossover(source, upper))
strategy.entry("sell", strategy.short, comment="sell", when = rsi(close, 14) > 75)
strategy.close("sell", when= rsi(close, 14) < 30, qty_percent = 100, comment = "close sell 50%")
if (crossunder(source, lower))
strategy.entry("buy", strategy.long, oca_name="BollingerBands", comment="buy", when = rsi(close, 14) > 25)
strategy.close("buy", when = rsi(close, 14) > 70, qty_percent = 100, comment = "close buy 50%")
//strategy.risk.max_drawdown(15, strategy.percent_of_equity) // set maximum drawdown to 50% of maximum equity
//strategy.close_all(when= , comment="close all")
plot(strategy.equity, title="equity", color=color.red, linewidth=2, style=plot.style_areabr)
Overview
Greeffer BB Strategy opens a short when price crosses above the upper band and the 14-period RSI is above 75, and a long when price crosses below the lower band and RSI is above 25. Shorts close when RSI falls below 30 and longs close when RSI rises above 70. Position size defaults to a percent of equity. Length and band multiplier change the moving-average basis and band width. It plots equity in a separate pane and has no stop loss.
- Bollinger Band crossover and crossunder entries
- RSI filters on entries and exits
- Percent-of-equity position sizing
- Equity curve in a separate pane
- No stop loss by default
Details
Published by
SammyEnigma on GitHub
Code credit
Greeffer, as written in the script's header
Type
Strategy, Pine Script v4
Draws
Separate pane below the chart
Category
Volatility & bands, Oscillators & momentum, 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 | 20 | length |
| mult | float | 2.0 | mult |
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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