BB With Buy & Sell Signaling by mattzab

This is an unmodified Bollinger Band, with the addition of buy/sell arrows.

No arrow = hold the position (whether in or out)
Blue up = buy
Red down = sell

Arrows are produced by MACD histogram moving in the same direction as price.
MACD settings are:

Fast EMA = 10
Slow EMA = 20
Signal Smoothing SMA = 5

Note di rilascio:

Cleaned up and commented code.

Note di rilascio:

Changed from Close Price to Average of High & Low Point.

Note di rilascio:

Removed more whiplash. Modified some stuff regarding close, hl2, and hlc3. The buy/sell points seem to be more accurate now.

If someone can show me how to prevent multiple consecutive buy arrows and sell arrows I'd appreciate it. Fewer arrows would be nice. Just a single buy, followed by a single sell, followed by a single buy, single sell, etc.

Email me, my username at gmail. Thanks!

Note di rilascio:

Cleaned up the arrows so there are fewer consecutive signals.

Note di rilascio:

Cleaned up the arrows more. Now you should almost always only get a buy signal if the last signal was a sell, and only get a sell if previous signal was a buy. Not sure fire, but should work in most cases.

Note di rilascio:

Added a blue and red line out in front of price to show how close the next signal is.

Full Explanation:

This will overlay standard Bollinger Bands, with these additions:

Blue Up Arrow - Buy Signal

Red Down Arrow - Sell Signal

To the right of the current price:
Horizontal Blue and Red Lines - These show you how close you are to getting the opposite signal. When blue is above red, you are in buy/hold territory. When blue is below red, you are in sell/wait territory. The purpose of these red and blue horizontal lines out in front of price is to show you how close you are to getting an opposite buy/sell signal.

Note di rilascio:

Removed previous changes: not functioning properly. Code commented. Fix if you can figure out how. Email me the fix. My username at gmail.

Note di rilascio:

This script now produces Standard Bollinger Bands, Buy/Sell arrows based on the 10,20,5 MACD Histogram (using high/low/close average) direction in relation to Price high/low average, and tack lines that indicate how close the next arrow is to coming around.

The script isn't perfect, but I don't know what to do to get the tack lines to the right of price to be more accurate to the buy/sell arrows.
Email me if you have any ideas.

Note di rilascio:

Minor Tweaks for accuracy on the tack marks. Still needs improvement for better accuracy, email me if you can figure out the math I'm missing.