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Bollinger Bands Strategy

The document describes a Bollinger Bands breakout trading strategy that enters long positions when the price crosses above the upper band and short positions when the price crosses below the lower band. It includes inputs to configure the strategy, plots the relevant indicators, and contains the logic to enter and exit trades based on the band crossovers and configured stop loss and take profit levels.

Uploaded by

Michael Bauer
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91 views3 pages

Bollinger Bands Strategy

The document describes a Bollinger Bands breakout trading strategy that enters long positions when the price crosses above the upper band and short positions when the price crosses below the lower band. It includes inputs to configure the strategy, plots the relevant indicators, and contains the logic to enter and exit trades based on the band crossovers and configured stop loss and take profit levels.

Uploaded by

Michael Bauer
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as TXT, PDF, TXT or read online on Scribd
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//@version=5

// Bollinger Bands Breakout Strategy


// The bot enters long when price crosses over the upper band
// And shorts when price crosses below the lower band
// Disclaimer:
// 1. I am not licensed financial advisors or broker dealers. I do not tell you
// when or what to buy or sell. I developed this software which enables you
// execute manual or automated trades using TradingView. The
// software allows you to set the criteria you want for entering and exiting
// trades.
// 2. Do not trade with money you cannot afford to lose. I am not accountable
for any losses.
// 3. I do not guarantee consistent profits or that anyone can make money with
no
// effort. And I am not selling the holy grail.
// 4. Every system can have winning and losing streaks.
// 5. Money management plays a large role in the results of your trading. For
// example: lot size, account size, broker leverage, and broker margin call
// rules all have an effect on results. Also, your Take Profit and Stop Loss
// settings for individual pair trades and for overall account equity have a
// major impact on results. If you are new to trading and do not understand
// these items, then I recommend you seek education materials to further your
// knowledge.
// Edited and constructed by TradeTactics, TP/SL and alert signals provided by War-
Jackel
// If this helped you and if you are able consider sending a tip
// BTC (BTC Network): 18wQFct5yhWDMhVvEM1m8b41EgvecAxhhJ
// USDT (ERC20): 0xaaf28ebb293aadfebe519a2888639d40c39419ef

strategy(shorttitle='Trade Tactics Template', title='Trade Tactics Template',


overlay=true, currency=currency.NONE, initial_capital = 1000, default_qty_type =
strategy.percent_of_equity, default_qty_value = 100, commission_value = 0.05)

//Inputs
showBB = input.bool(false, "Show Bollinger Bands")
showTrade = input.bool(false, 'Show TP/SL')
src = input(close)
length = input.int(41, minval=1)
mult = input.float(2.0, minval=0.001, maxval=50)

//Formulas
basis = ta.sma(src, length)
dev = ta.stdev(src, length)
dev2 = mult * dev

upper1 = basis + dev


lower1 = basis - dev
upper2 = basis + dev2
lower2 = basis - dev2

//Style
colorBasis = src >= basis ? color.blue : color.orange

//Plots
pBasis = plot(showBB ? basis : na, linewidth=2, color=colorBasis)
pUpper1 = plot(showBB ? upper1 : na, color=color.new(color.blue, 0),
style=plot.style_circles)
pUpper2 = plot(showBB ? upper2 : na, color=color.new(color.blue, 0))
pLower1 = plot(showBB ? lower1 : na, color=color.new(color.orange, 0),
style=plot.style_circles)
pLower2 = plot(showBB ? lower2 : na, color=color.new(color.orange, 0))

//Fills
fill(pBasis, pUpper2, color =showBB ? color.new(color.blue, 80) : na)
fill(pUpper1, pUpper2, color=showBB ? color.new(color.blue, 80) : na)
fill(pBasis, pLower2, color =showBB ? color.new(color.orange, 80) : na)
fill(pLower1, pLower2, color=showBB ? color.new(color.orange, 80) : na)

// Strategy code begins here


import TradingView/Strategy/2 as css

//DATE RANGE FILTER {


i_tradeDirection = input.string(title='Trade Direction',
defval=strategy.direction.all, options=[strategy.direction.all,
strategy.direction.long, strategy.direction.short], group='Trade Filters')
strategy.risk.allow_entry_in(i_tradeDirection)
i_startTime = input.time(defval=timestamp('01 Jan 1999 00:00 +0000'), title='Start
Time', group='Trade Filters')
i_endTime = input.time(defval=timestamp('01 Jan 2099 00:00 +0000'), title='End
Time', group='Trade Filters')
inDateRange = time >= i_startTime and time <= i_endTime
//}
//SL TP PERCENT {
string sltp= "STOP/TAKE PROFIT"
usetpsl = input.bool(false, 'Use TP/SL', inline=sltp, group=sltp)
float percentStop = input.float(1.0, "Stop %", minval = 0.0, step = 0.25,
group=sltp, inline='percent')
float percentTP = input.float(2.0, "Limit %", minval = 0.0, step = 0.25,
group=sltp, inline='percent')
//}
//ALERTS {
i_alert_txt_entry_long = input.text_area(defval = "", title = "Long Entry Message",
group = "Alerts")
i_alert_txt_entry_short = input.text_area(defval = "", title = "Short Entry
Message", group = "Alerts")
i_alert_txt_exit_long = input.text_area(defval = "", title = "Long Exit Message",
group = "Alerts")
i_alert_txt_exit_short = input.text_area(defval = "", title = "Short Exit Message",
group = "Alerts")
//}

// Using the input stop/ limit percent, we can convert to ticks and use the ticks
to level functions.
// This can be used to calculate the take profit and stop levels.
float sl = css.ticksToStopLevel (css.percentToTicks (percentStop))
float tp = css.ticksToTpLevel (css.percentToTicks (percentTP))

exitPrice = strategy.closedtrades.exit_price(strategy.closedtrades-1)
bias = math.sign(strategy.position_size)
avg = strategy.position_avg_price

// Conditions used to reference position and determine trade bias


bool long = strategy.position_size > 0
bool short = strategy.position_size < 0
bool enterLong = long and not long [1]
bool enterShort = short and not short[1]
bool enter = enterLong or enterShort
bool exit = strategy.position_size == 0 and not (strategy.position_size ==
0)[1]
bool flat = strategy.position_size == 0

//STRATEGY PLOTS {
avgerage = plot(showTrade ? avg : na, "ENTRY", not enter ?
color.new(color.white, 0) : na, 2, plot.style_linebr)
slp = plot(showTrade ? sl : na, "STOP LOSS", not enter ?
color.new(color.red, 60) : na, 4, plot.style_linebr)
tpp = plot(showTrade ? tp : na, "TAKE PROFIT", not enter ?
color.new(color.green, 60) : na, 4, plot.style_linebr)

fill(tpp, avgerage, color = color.new(color.green, 80), title='TP Background')


fill(avgerage, slp, color = color.new(color.red, 80) , title= 'SL Background')
//}

if usetpsl == true and long


css.exitPercent("exit long", percentStop, percentTP,
alertMessage=i_alert_txt_exit_long)

if usetpsl == true and short


css.exitPercent("exit short", percentStop, percentTP,
alertMessage=i_alert_txt_exit_short)

long_entry = ta.crossover(src, upper1)


short_entry = ta.crossunder(src, lower1)

bool longCondition = long_entry


bool shortCondition = short_entry

// Create entries based on the cross conditions for both trades biases.
if longCondition and inDateRange
strategy.close("SHORT", "SX" , alert_message=i_alert_txt_exit_short)
strategy.entry("LONG", strategy.long, alert_message=i_alert_txt_entry_long)

if shortCondition and inDateRange


strategy.close("LONG", "LX", alert_message=i_alert_txt_exit_long)
strategy.entry("SHORT", strategy.short, alert_message=i_alert_txt_entry_short)

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