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    chirag110112
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    This document describes a Bollinger Band Breakout trading strategy. It defines inputs for length, moving average type, and standard deviation multiplier. It then calculates the moving average, standard deviation, and upper and lower bands. It plots these and enters long positions when the price crosses below the lower band, exiting when it crosses above the upper band.

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    This document describes a Bollinger Band Breakout trading strategy. It defines inputs for length, moving average type, and standard deviation multiplier. It then calculates the moving average, standard deviation, and upper and lower bands. It plots these and enters long positions when the price crosses below the lower band, exiting when it crosses above the upper band.

    Copyright:

    © All Rights Reserved
    Download as TXT, PDF, TXT or read online from Scribd
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    6 views1 page

    Strategy

    Uploaded by

    chirag110112
    This document describes a Bollinger Band Breakout trading strategy. It defines inputs for length, moving average type, and standard deviation multiplier. It then calculates the moving average, standard deviation, and upper and lower bands. It plots these and enters long positions when the price crosses below the lower band, exiting when it crosses above the upper band.

    Copyright:

    © All Rights Reserved
    Download as TXT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    //@version=5

    strategy("Bollinger Band Breakout", shorttitle="BB Breakout", overlay=true)

    length = input.int(20, title="Length", minval=1)


    maType = input.string("SMA", title="Basis MA Type", options = ["SMA", "EMA", "SMMA
    (RMA)", "WMA", "VWMA"])
    src = input(close, title="Source")
    mult = input.float(2.0, title="StdDev", minval=0.001, maxval=50)

    ma(source, length, _type) =>


    switch _type
    "SMA" => ta.sma(source, length)
    "EMA" => ta.ema(source, length)
    "SMMA (RMA)" => ta.rma(source, length)
    "WMA" => ta.wma(source, length)
    "VWMA" => ta.vwma(source, length)

    basis = ma(src, length, maType)


    dev = mult * ta.stdev(src, length)
    upper = basis + dev
    lower = basis - dev
    offset = input.int(0, title="Offset", minval = -500, maxval = 500)

    plot(basis, title="Basis", color=#FF6D00, offset = offset)


    p1 = plot(upper, title="Upper", color=#2962FF, offset = offset)
    p2 = plot(lower, title="Lower", color=#2962FF, offset = offset)

    // Buy Condition: Price crosses below the lower Bollinger Band


    buyCondition = ta.crossover(close, lower)
    strategy.entry("Buy", strategy.long, when = buyCondition)

    // Sell Condition: Price crosses above the upper Bollinger Band


    sellCondition = ta.crossunder(close, upper)
    strategy.close("Buy", when = sellCondition)

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