ChannelTrend

Potential Breakout (PBO)

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This is Bollinger Band Width indicator but i called it "PBO" means Potential Breakout. Default value is set at length 20 with 1 Standard Deviation (Narrow).

Upper and Lower Band is filled with blue color to indicate volatility of price movement.
Line chart is represent price movement.

Decision to buy/sell is as following :-

1 - Potential Buy - Price Line turned Green crossed above upper Band. The important things is buy at bollinger band squeeze for low volatility .
2 - Potential Sell - Price Line turned Red crossed below lower Band.

Note : Price breakout from narrow band normally result in rally.
The longer duration of narrow band will result in stronger rally after breakout.
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This script is published closed-source and you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.
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Comments

Nice idea!
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@ChannelTrend how to set alerts for buy and sell labels pls? its a great script but alerts are needed))) appreciate
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I love this indicator!! Much Thanks!!!
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Salam, appreciate to grant this indi.... TQVM
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Salam tuan mohon keizinan untuk guna indi PBO.
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beautiful
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i like this strategy...can I apply it at my screener?and how to script this?
Reply
@syedaman, can apply to chart but doesnt work for screener... click indicator button above chart and type PBO, you can access it for your chart.
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No, I haven't.
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Does it repaint?
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