APIBridge Bollinger Bands Strategy

Strategy Premise

The upper, middle, and lower band. The middle band basically serves as a base for both the upper and lower. They are mainly used when determining when there are overbought or oversold levels. Selling when the price touches the upper band and buying when the price touches the lower band. The spacing between the lower, upper, and middle band is determined by volatility. The middle band consists of a 20 period moving average.


Strategy Logic
Long Entry: When Price touches the lower band and closes above it, Send LE.

Long Exit: Either when SL or Target is hit. If SL/TGT is not hit and Price touches Upper band and closes below it, send LX and SE

Short Entry: When Price touches the Upper band and closes below it, Send SE

Short Exit: Either when SL or Target is hit. If SL/TGT is not hit and Price touches lower band and closes above it, send SX and LE

Bollinger Band Strategy Parameters for TradingView Charts

1. Length(Mandatory): This is the number of bars used to calculated Ex: 14 à previous 14 candles are used.

2. Mult: Multiply By Length

3.Backtesting : Use this to backtest the strategy between Starting and Ending Date and time , it can also be used to set trades in future time

4.Alert_Message : Need to copy while creating alert into Message Box

5.Trade Setup : Intraday / Positional (Selecct accordingly)

6.Start Time Stop Time (Session 1) : Intraday / Positional start time and end time of trade for session 1

7.End Session 1 : Define time to exit any existing position taken in session 1 so that exchange charges will not apply

8.Use Second Session : Check this to use second intraday session

9.Start Time Stop Time (Session 2) : Intraday / Positional start time and end time of trade for session 2

10.End Session 1 : Define time to exit any existing position taken in session 2 so that exchange charges will not apply

11.Use Target : check if you want to set required target if not cheque will not applicable

12.Use StopLoss : Cheque if you want to set stop loss if not cheque will not applicable

13.Trailling Stoploss : Cheque if you want to set trailing stop loss if not cheque will not applicable

14.Point Or Percentage For TG SL : Use Points or Percentage as per your choice

15.Target : Set as per the selection of (Point Or Percentage For TG SL)

16.Stop Loss : Set as per the selection of (Point Or Percentage For TG SL)

17.TSL_Type : Select as per your logic in %/ATR/Points

18.TSL_Input : Set in case you select %/Points in TSL_Type

19.ATR Length : Set as per your logic if you select ATR in the field of TSL_Type

20.ATR_Mult : Set as per your logic if you select ATR in the field of TSL_Type

21.Segment : Select segment of your logic EQ/FUTIDX/FUTSTK/OPTIDX/OPTSTK/FUTCUR/FUTCUM (Used in case of option / Futures )

22.Select Expiry Date : Select the expiry date of your trade as per the segment you selected (Used in case of option / Futures )

23.Select Expiry Month : Select the expiry Month of your trade as per the segment you selected (Used in case of option / Futures )

24.Year : Select the expiry Year of your trade as per the segment you selected (Used in case of option / Futures )

25.Quantity : Enter the quantity in which you want to trade (Used in case of option / Futures )

Product Type : Select MIS/Normal/ CNC as per your logic (Used in case of option / Futures )

Order Type : Select Market/Limit as per your logic (Used in case of option / Futures )

Strategy Tag : Enter the value in case you are using webhook / advance template in APIBridgeTM

Lotsize : Enter the lotsize as per your lotic and quentity selection (Used in case of option / Futures )

STEP (OTM/ATM/ ITM ) : Select OTM(+1)/ATM(0)/ ITM (-1) as per your logic works in case of options only

DIFFERENCE_BETWEEN 2 STRIKE : Select difference of 2 strikes you have used in APIBridge symbol setting list, like for Nifty 50 BankNifty 100

APIB Port : Set as per provided to you by Algoji in case of webhook / advance templet

The Segment full form is given below
EQ Equity
FUTIDX Future Index
FUTSTK Future Stock
OPTIDX Index Option
OPTSTK Stock Option
FUTCUR Futcur Currency
FUTCUM Future Commodity