OPEN-SOURCE SCRIPT
Updated SuperJump Turn Back Bollinger Band
This is a simple indicator using bolinger band return.
After the candle's bolinger band broke out,
Turn back inside BB is the entry point.
Usually there are more than two triangles, so you can wait after ordering a better price.
https://www.tradingview.com/x/DYrMEZYP/
As you already know about it, it is very dangerous for the bolinger band to enter in the reverse direction when a strong trend is created.
That's why I made the Red Line. It is calculated by ATR and will suggest you an appropriate StopLoss value.
https://www.tradingview.com/x/PI4uoEgw/
After the candle's bolinger band broke out,
Turn back inside BB is the entry point.
Usually there are more than two triangles, so you can wait after ordering a better price.
https://www.tradingview.com/x/DYrMEZYP/
As you already know about it, it is very dangerous for the bolinger band to enter in the reverse direction when a strong trend is created.
That's why I made the Red Line. It is calculated by ATR and will suggest you an appropriate StopLoss value.
https://www.tradingview.com/x/PI4uoEgw/
Release Notes
Fixed Signal Error for AlertAdded SL Price at Alert message
Release Notes
Fixed SignalRelease Notes
Visualized the signals using the two Bollinger bands proposed by ronicm29Thanks.
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 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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