PROTECTED SOURCE SCRIPT
Updated Bollinger Bands Outside Reversal
Not the most accurate indicator, but if combined with some others, it could help you.
BUY Conditions (green):
1. Blue candlestick closes above Bollinger Bands
2. Red candlestick opens outside Bollinger Bands
SELL Conditions (red):
1. Red candlestick closes below Bollinger Bands
2. Blue candlestick opens outside Bollinger Bands
Please always remember, there is no holy grail indicator!
BUY Conditions (green):
1. Blue candlestick closes above Bollinger Bands
2. Red candlestick opens outside Bollinger Bands
SELL Conditions (red):
1. Red candlestick closes below Bollinger Bands
2. Blue candlestick opens outside Bollinger Bands
Please always remember, there is no holy grail indicator!
Release Notes
- Update from Pinescript v3 to v5- Added alertcondition for bullish and bearish reversals
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.