OPEN-SOURCE SCRIPT
MA Bollinger Bands + RSI (Study)
Updated
This study/indicator script is meant to allow users to set alerts based on my MA Bollinger Bands + RSI (Strategy).
Both Study and Strategy scripts reflect the exact same user inputs, parameters and trading signals.
6 different alerts available:
- MABB+RSI Long (or Short) Signal (all): activates for every single Long (or Short) signals
- MABB+RSI Long (or Short) Signal: activates when trade direction changes from Short to Long (or from Long to Short)
- MABB+RSI Long (or Short) Re-Entry Signal: after a stop loss was hit, activates upon same trade direction if new signal
(“Enable SL” & “Allow re-entry” must be switched on)
Chart legend:
- Red arrow = Short Signal
- Blue arrow = Long Signal
- Red square = Stop loss (when trade entry)
- Purple square = Stop loss (when hit)
NB1: Be sure to set both Study and Strategy script settings to the same values if you want to achieve similar results in both scripts.
NB2: When setting up your alerts, preferably use option “Once per bar close” to get proper confirmations.
Enjoy!
Both Study and Strategy scripts reflect the exact same user inputs, parameters and trading signals.
6 different alerts available:
- MABB+RSI Long (or Short) Signal (all): activates for every single Long (or Short) signals
- MABB+RSI Long (or Short) Signal: activates when trade direction changes from Short to Long (or from Long to Short)
- MABB+RSI Long (or Short) Re-Entry Signal: after a stop loss was hit, activates upon same trade direction if new signal
(“Enable SL” & “Allow re-entry” must be switched on)
Chart legend:
- Red arrow = Short Signal
- Blue arrow = Long Signal
- Red square = Stop loss (when trade entry)
- Purple square = Stop loss (when hit)
NB1: Be sure to set both Study and Strategy script settings to the same values if you want to achieve similar results in both scripts.
NB2: When setting up your alerts, preferably use option “Once per bar close” to get proper confirmations.
Enjoy!
Release Notes
! OUTDATED !If you are using coresponding "Strategy" script, be aware that its content is not reflected this "Study" script version anymore.
I will update Study script accordingly in a few days.
Release Notes
! UPDATED !- Study() and Strategy() Scripts now both reflect the same results for a given set of settings.
All « strategy.position_size » variables were replaced by custom identifier: LSF (Long, Short, Flat) in corresponding Strategy Script
- Bigger arrows (blue / red) for signals along with trade direction change
Release Notes
Hi all,- Alerts conditions added when SL are hit! You can now use them when automating your trading.
- There were inconsistencies within stop losses plots and activations: those where fixed.
NB:
Still minor issues when stop loss should activate on the candle right after trade entry candle. Instead of stopping, trade keeps going until it hits stop loss in following candles (or until trade direction reversal)
This issue occurs only when stop loss is set very close to trade entry price. So, depending on your strategy settings, if you give enough room for your trades to “breathe”, this will not be a problem.
Release Notes
!!! OUTDATED SCRIPT !!!I'll update the Study Script, according to new upadates on the Strategy Script, in a few days
Release Notes
UPDATED according to last Strategy script updateRelease Notes
Avoid repainting on security functionOpen-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 publication is governed by House rules. You can favorite it to use it on a chart.
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Disclaimer
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