OPEN-SOURCE SCRIPT
BB + SMA120
Custom Bollinger Band with SMA Alert Indicator
This script is a customized Bollinger Band indicator with added alerts based on specific conditions related to a 120-period Simple Moving Average (SMA). This indicator is designed for traders who want to receive alerts when certain interactions occur between the Bollinger Bands and the SMA levels, providing potentially valuable signals in trend-following or mean-reversion strategies.
Key Features:
Bollinger Bands Calculation:
The script calculates a standard 25-period Bollinger Band using a customizable standard deviation. The bands consist of an upper, middle (basis), and lower line, allowing traders to observe volatility and potential support/resistance levels.
120 SMA High and Low Levels:
A 120-period SMA of high and low prices is added to the chart, providing a reference for longer-term trend direction and creating a range within which the Bollinger Bands can be evaluated.
Conditional Alerts:
Scenario 1: An alert is triggered when the Bollinger Bands remain above the 120 SMA high and low, and the price taps the lower Bollinger Band. This can be useful for spotting potential buy entries in an uptrend when prices retrace to the lower band.
Scenario 2: An alert is triggered when the Bollinger Bands remain below the 120 SMA high and low, and the price taps the upper Bollinger Band. This may help identify potential sell entries in a downtrend when prices retrace to the upper band.
Visual Aids:
The 120 SMA high and low lines are plotted on the chart with color fills, making it easy to visualize the trend and range boundaries.
Color-coded Bollinger Bands help highlight potential areas of interest based on volatility.
How to Use:
Add this indicator to your chart, configure the Bollinger Band length, and set your alert preferences. Alerts can be managed through TradingView's alert panel, where you can select the scenarios based on price interaction with the bands.
Recommended Use:
This indicator can be helpful for price action traders and mean-reversion strategies in Forex, stocks, and other markets where Bollinger Bands and moving averages are used.
Alerts may provide early signals for potential trade setups, although further confirmation and analysis are advised before entry.
This script is a customized Bollinger Band indicator with added alerts based on specific conditions related to a 120-period Simple Moving Average (SMA). This indicator is designed for traders who want to receive alerts when certain interactions occur between the Bollinger Bands and the SMA levels, providing potentially valuable signals in trend-following or mean-reversion strategies.
Key Features:
Bollinger Bands Calculation:
The script calculates a standard 25-period Bollinger Band using a customizable standard deviation. The bands consist of an upper, middle (basis), and lower line, allowing traders to observe volatility and potential support/resistance levels.
120 SMA High and Low Levels:
A 120-period SMA of high and low prices is added to the chart, providing a reference for longer-term trend direction and creating a range within which the Bollinger Bands can be evaluated.
Conditional Alerts:
Scenario 1: An alert is triggered when the Bollinger Bands remain above the 120 SMA high and low, and the price taps the lower Bollinger Band. This can be useful for spotting potential buy entries in an uptrend when prices retrace to the lower band.
Scenario 2: An alert is triggered when the Bollinger Bands remain below the 120 SMA high and low, and the price taps the upper Bollinger Band. This may help identify potential sell entries in a downtrend when prices retrace to the upper band.
Visual Aids:
The 120 SMA high and low lines are plotted on the chart with color fills, making it easy to visualize the trend and range boundaries.
Color-coded Bollinger Bands help highlight potential areas of interest based on volatility.
How to Use:
Add this indicator to your chart, configure the Bollinger Band length, and set your alert preferences. Alerts can be managed through TradingView's alert panel, where you can select the scenarios based on price interaction with the bands.
Recommended Use:
This indicator can be helpful for price action traders and mean-reversion strategies in Forex, stocks, and other markets where Bollinger Bands and moving averages are used.
Alerts may provide early signals for potential trade setups, although further confirmation and analysis are advised before entry.
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.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.