Bollinger Band Breakout

This strategy buys when price crosses above an upper Bollinger Band and sells when the lower band is breached. What makes this strategy different than others:
  • Long only with filtering for only showing strong tickers
  • Filter out trades below a moving average on both the current timeframe and a longer period timeframe to keep you out of bear markets
  • Optional ability to set a tighter initial stop level to increase exposure and decrease downside risk on freshly opened trades while you wait for the lower Bollinger Band trailing stop to catch up
  • Take entries/exits on wicks/stops or wait for candle closes before entry
  • Select which dates to backtest
  • Customize Bollinger Band parameters including the ability to have different values for the upper and lower band standard deviation

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.


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