Robrecht99

Trend Following with Bollinger Bands

Robrecht99 Updated   
This is a trend following system which uses the Bollinger Bands instead of the Donchian Channels.

Long position:
* Price closes above the middle line.
* The fast EMA (in this case the 40) crosses over or is above the slow one (in this case the 120)

Short position:
* Price closes below the middle line.
* The fast EMA crosses under or is below the slow one.

Stoploss:
* 4 ATRs away from the price.
Release Notes:
Replaced the multiplier in the position size formula with syminfo.pointvalue in order to get a more accurate position size.
Release Notes:
Reverted the pyramiding setting from 4 back to 1 to keep the system simple and the max drawdown low.
Added a visual ATR trailing stop, so you know where to put your stoploss.
Release Notes:
Adjusted the position size formula.
Improved the stoploss multiplier.

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?