by 
This strategy calculates Bollinger Bands and Aroon oscillator values to identify mean-reversion opportunities. It enters a long position using full equity when the closing price crosses below the lower Bollinger Band while Aroon Up remains above a user-specifi
Strategy · Pine Script v4 · On the chart
UT Bot Alerts
UT Bot Alerts combines an ATR-based trailing stop mechanism with selectable channel bands, including Bollinger Bands, Keltner Channels, and standard or pivot-based Donchian Channels.
GitHub stars4on the repository
Pine versionv4older, still runs
Lines of code120
Settings11inputs
LicenceCustom licence
Last update1 year ago21 Mar 2025
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
Signals are driven by crossovers between price and the adaptive ATR trailing stop line, with an option to calculate values using Heikin Ashi candles. Main settings adjust ATR sensitivity, channel types, standard deviations, and pivot lengths. The strategy plots overlays directly on the price chart. By default, there are no defined stop-loss or take-profit exit orders.
- ATR-based trailing stop calculation
- Selectable volatility channel envelopes
- Optional Heikin Ashi candle input
- Pivot-based channel calculations
- Configurable sensitivity and multiplier settings
Details
Published by
ShabbirHasan1 on GitHub
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Trend, Volatility & bands
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 |
|---|---|---|---|
| Key Vaule. 'This changes the sensitivity' | int | 1 | a |
| ATR Period | int | 10 | c |
| Signals from Heikin Ashi Candles | bool | false | h |
| Channel Type | string | Bollinger Bands | BandType |
| ChannelLength | int | 20 | ChannelLength |
| StdDev | int | 1 | StdDev |
| pvtLen | int | 2 | pvtLen |
| Wait For Candle Close Before Printing Pivot | bool | true | WaitForClose |
| ATR Periods | int | 22 | Pd |
| ATR Multiplier for Non pivot stop | int | 1 | Mult |
| wicks | bool | false | wicks |
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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