BB Signal v2.1 [ABA Invest] — Indicator by abainvest

bandsandchannels bollingerbands bollingerbandstrategy abainvest

About
This signal appears based on 2nd candle break out of Bollinger Bands (called Momentum) with additional EMA 50 and EMA 200 as trend filters. so the concept is to take advantage of candle breakout by following trends.

How to use
Buy: When signal 'Buy' appears (following trend of upper timeframe)
Recommended stop loss: previous swing low

Sell: When signal 'Sell' appears (following trend of upper timeframe)
Recommended stop loss: previous swing high

Rules
1. use a good risk-reward ratio (minimum 1.5)
2. Please do backtest before using this signal
3. Don't always take every signal (must know when to stop)

Release Notes:

Changed label style from abovebar (for buy) to belowbar (for buy), and vice versa for sell

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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.

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