OPEN-SOURCE SCRIPT
Bollinger Bands Cross Strategy
This strategy finds key buying and selling points during highly volatile market conditions. It works best on 2 hour timeframes. use the "same as chart time frame".
Red circles are selling points, and green circles are buying points.
During a bull market, it will find the best buying times, when price capitulates.
During a bear market it will find the best selling times when prices spikes higher.
It will be wrong when the market conditions change from one to the other.
During a strong uptrend without large volatility, it will generate more sell signals than wanted, you can adjust the sell-basis to account for this, and vice versa for the buy basis.
Red circles are selling points, and green circles are buying points.
During a bull market, it will find the best buying times, when price capitulates.
During a bear market it will find the best selling times when prices spikes higher.
It will be wrong when the market conditions change from one to the other.
During a strong uptrend without large volatility, it will generate more sell signals than wanted, you can adjust the sell-basis to account for this, and vice versa for the buy basis.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.