OPEN-SOURCE SCRIPT

[EURUSD60] BB Expansion Strategy

Overview
This is a strategy that can be used in the EURUSD 60 time frame.
It is a trend-following method that uses Bollinger Bands Expansions.
The idea of using Bollinger Bands expansion is well known to the general public, but I don’t know any strategy that this idea has been PINE coded.

The three main components of this strategy are as follows.
・Long term BB and Short term BB : When the short term BB expands more than the long term BB, it suggests the occurrence of a trend.
・14EMA of 240 t/f : The direction of 14EMA of the upper time frame is used as the trend direction.
・ATR lines : As a stop-loss line and a take-profit line.


Description
Fig. Long entry pattern
istantanea

Fig. Short entry pattern
istantanea

・Description of lines
Gray : Large BB (=Long term BB)
White : Small BB (=Short term BB)
Blue or Red line : Upper t/f EMA(default: 14EMA), blue is up-trend, red is down-trend
Yellow : Stop loss line by ATR(the term is 14)
Purple : Take profit line by ATR(the term is 14)

・Description of strategy
First of all, when the small BB expands more than the large BB, this strategy detects the occurrence of a trend.
Second, When the price crosses over or crosses under small BB basis, this strategy entries long or short to trend direction (by upper time frame 14EMA).
The default stop-loss range is three times ATR value, and the default take-profit target is 1.5 times the stop-loss range (=risk reward ratio is 1.5).
Average True Range (ATR)Bollinger Bands (BB)Exponential Moving Average (EMA)

Script open-source

In pieno spirito TradingView, l'autore di questo script lo ha pubblicato open-source, in modo che i trader possano comprenderlo e verificarlo. Un saluto all'autore! È possibile utilizzarlo gratuitamente, ma il riutilizzo di questo codice in una pubblicazione è regolato dal nostro Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.

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