JustUncleL

VDUB BB %B REVERSAL_v4.2 revised by JustUncleL

This is an revised Open Public version of Vdub Bollinger Band %B reversal indicator. This version includes optional Divergence Finder with selectable channel width, optional Market Session time highlighting and optional Binary Option expiry markers.
Release Notes: R4.3 By JustUncleL: some minor updates
  • Updated for Version 3 Pinescript compliance.
  • Added option to change Session times.
  • Change to 3 Session times: Asia, Europe and NewYork
  • Added Colourung under BB %B curve to Highlight %B peaks.

HINT: I find Divergence works better at the Higher Time Frames 4hr or Daily.
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Release Notes: Small Update:
Changed input type to "session" for Session Time entries.

HINT#2: Look for Divergence markers that begin from Peaks above 50% or below -%50.
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JustUncleL
This is for BO ;)
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Lyiness Lyiness
Trade directly the signal and not the candle afterwards
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@Lyiness, Thank you for your BO trading idea. Please be aware, if not already, that the %B curve is a reflection of the Bollinger Bands: when %B crosses the zero that is the same as price crossing centre line of BB; when %B goes above 50 or below -50, then that is the same as price moving outside of the BB.
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Lyiness JustUncleL
@JustUncleL, I admire your work here. is there a more specific alternative?

 


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Lyiness JustUncleL
@JustUncleL, in the picture it is a bit unclear. I already trade the candle with the signal and not the after and quite successful.
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@Lyiness,What your are trading is a valid way of of using Bollinger Band centre line (which is the same as %B zero), and if it is working for you I would not change a thing. I was just making sure Traders were aware of what the BB %B indicator represents. It is generally used more for Divergence analysis on Higher Time Frames H1+, but that does not mean that is the only way it can be used as it is really a representation of the Bollinger Bands.
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Lyiness JustUncleL
@JustUncleL, Thank you for your good response
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Is the signal repainting after the bar close? Thanks
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JustUncleL cristian.d
@cristian.d, Please refer to Open Close Strategy R5 for details regarding repainting issues.
+1 Reply
This Indicator can be use for Equity insted of Currency?
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