[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)
Hi Ricardo. Do you know how to convert your code to amibroker (AFL) code?
+1 Reply
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?
Looks interesting will investigate further
Ricardo this is interesting. I'll take a look further
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.

+1 Reply
IvanLabrie IvanLabrie
+3 Reply
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 Reply
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