OPEN-SOURCE SCRIPT
Bollinger Band Breakout Strategy
This is a strategy script that can be used to trade the stock market or in some cases the crypto market.
- It is a BB (Bollinger Band) Breakout Strategy that has a 3:1 standard deviation between the upper band and lower band. It also consists of a 100 day MA in the middle of the two BBs (Bollinger Bands).
- The strategy is useful in detecting longer term trends and does it through a breakout above the upper band. The lower band is used to stop-out trades.
- The main disadvantage of this strategy is the large DD (draw downs), so it might be useful to use other methods for stopping out trades.
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 publication is governed by House rules. You can favorite it to use it on a chart.
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