OPEN-SOURCE SCRIPT
Double Bollinger Bands Forex Strategy
I came across Kathy Lien talk about Double Bollinger Band strategy quite a lot.
More information concerning the usage of the strategy is best explained by Kathy Lien in her YouTube webinars.
Basically there are two Bollinger Bands:
1. 20 Period, 1 Standard Deviation
2. 20 Period, 2 Standard Deviation
Recommended Time Frame is Daily or 4 Hours.
Basically we want the currency pair to roll over close below the 1 Standard Deviation (Green Band). This tells us the up-trend has broken, the momentum has been lost and the currency pair is now reversing. We then Short it at the next candle.
Open-source script
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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.