[RS]Bollinger Bands Breakout Candles V0

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EXPERIMENTAL: a experiment using bollingers and directional momentum, Breakout detector.
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study(title="[RS]Bollinger Bands Breakout Candles V0", shorttitle="[RS]BBBc.V0", overlay=true)
length = input(8)
src = input(hl2)
deviations = input(2)
ma = sma(src, length)
oma = ma > ma[1] ? valuewhen(ma < ma[1], ma[1], 0) : ma < ma[1] ? valuewhen(ma > ma[1], ma[1], 0) : nz(oma[1])
upper = oma + stdev(src, length) * deviations
lower = oma - stdev(src, length) * deviations

plotcandle(oma, upper, lower, ma, color=ma>=upper?#9ce0b2:ma<=lower?#e0b29c:ma>=ma[1]?green:maroon)


Looks very good.
Try pairing it with my range expansion bar signals and you have a straight winner.
Now, an auto strategy with these would be interesting, but would need extra specific variables.

+2 Rispondi
IvanLabrie IvanLabrie
+3 Rispondi
Hi Ricardo. Do you know how to convert your code to amibroker (AFL) code?
+1 Rispondi
Richardo - this might be your best yet. Do you like any of your other indicators combined with this one? Thanks for all you are sharing with us.
+1 Rispondi
RicardoSantos Alphaoptions
didnt have time yet to play with it much, so atm it looks as closed system, let me know if you find nice combos :D
+3 Rispondi
is this repaint? sorry i just want to confirm..
very interesting work and concept. qq, did this indicator come from a body of work or previous analyst?
if so, i'd love to further read about it.
currently busy with work stuff, so cant do much testing, thx for comments
Nice work, Always great when Someone completes your planned indicator. I will see, how it compares to my version, if needed I will post.
Have you found this indicator to be effective on any particular timescale?
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