Bollinger Bands Outside Reversal — Indicator by fyntrade

bollingerbands reversal outside fyntrade bollinger_bands alertsignals

Not the most accurate indicator, but if combined with some others, it could help you.

BUY Conditions (green):
1. Blue candlestick closes above Bollinger Bands
2. Red candlestick opens outside Bollinger Bands

SELL Conditions (red):
1. Red candlestick closes below Bollinger Bands
2. Blue candlestick opens outside Bollinger Bands

Please always remember, there is no holy grail indicator!

Release Notes:

- Update from Pinescript v3 to v5
- Added alertcondition for bullish and bearish reversals

Protected script

This script is published closed-source but you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.

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?