Bollinger Fanboy — Indicator by sh3rmfx

bollingerbands fanboy bollingerfanboy.com

To use this indicator. Set pending orders to enter at "Entry", stoploss at "Stop", and profit at "Exit". Close pending order after 10 bars if it doesn't open.

Please use this at your own risk. By using this indicator you are agreeing that I am in no way liable for any financial losses that may occur indirectly or directly as a result of using this indicator.

Copyright 2014 Michael Edwards (info@bollingerfanboy.com)
Bollingfanboy.com

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.

Want to use this script on a chart?

study(title="Bollinger Fanboy", shorttitle="Bollinger Fanboy", overlay=true)

bf_middle = sma(close, 20)
bf_top = bf_middle + (stdev(close, 20) * 2)
bf_bottom = bf_middle - (stdev(close, 20) * 2)

bf_short_entry = low
bf_short_stop = high
bf_short_exit = low - ((high-low) * 1.5)

bf_long_entry = high
bf_long_stop = low
bf_long_exit = high + ((high-low) * 1.5)

bf_long = close < bf_middle ? (close > bf_bottom ? true : false) : false
bf_short = close > bf_middle ? (close < bf_top ? true : false) : false

bf_lowest = low == lowest(10) ? ( low < bf_bottom ? true : false ) : false
bf_highest = high == highest(10) ? ( high > bf_top ? true : false ) : false

bf_go_long = bf_long ? ( bf_lowest ? ( bf_long_exit < bf_middle ? true : false ) : false ) : false
bf_go_short = bf_short ? ( bf_highest ? ( bf_short_exit > bf_middle ? true : false ) : false ) : false

bf_enter = bf_go_long ? bf_long_entry : ( bf_go_short ? bf_short_entry : bf_enter[1] )
bf_exit = bf_go_long ? bf_long_exit : ( bf_go_short ? bf_short_exit : bf_exit[1] )
bf_stop = bf_go_long ? bf_long_stop : ( bf_go_short ? bf_short_stop : bf_stop[1] )

plot(bf_enter == bf_enter[10] ? na : bf_enter, title="Entry", color=orange, style=circles)
plot(bf_enter == bf_enter[10] ? na : bf_exit, title="Exit", color=green, style=circles)
plot(bf_enter == bf_enter[10] ? na : bf_stop, title="Stop", color=red, style=circles)