Sentinel Program - A Bollinger Band Strategy, with alerts
This script plots the Bollinger Bands and confirms entry and exits by using RSI values, Stoch, and ADX Curve. Works on any time-frame.
The scope of the script is to reduce the number of fake breakouts to prevent further declines when entering positions. Often times when using Bollinger bands, a close below the lower band presents a buying opportunity but there is further movent to the downside and vise versa when taking profits.
Entry Conditions
Exit Conditions
Each of the above values can be adjusted in the inputs menu to fine-tune your entry and exit positions.
Using
ETHUSD
we can see that the conditions have been met before plotting buy and sell signals.
I have added alerts to help identify possible entry and exits and from there I manually enter or exit / adjust stop-loss. For example, sometimes it will print a sell signal because stochastic crossed over but RSI is still rising so I will adjust a tighter stop-loss to capture further gain if they are there.
Test it out, adjust the settings to see if you can find better results, and let me know!
The scope of the script is to reduce the number of fake breakouts to prevent further declines when entering positions. Often times when using Bollinger bands, a close below the lower band presents a buying opportunity but there is further movent to the downside and vise versa when taking profits.
Entry Conditions
- Prior candle low below lower band
- RSI above 30
- Stochastic crossover above 20
- ADX curve greater than 25
Exit Conditions
- Prior candle highw above upper band
- RSI crosses below 70
- Stochastic crossunder above 80
Each of the above values can be adjusted in the inputs menu to fine-tune your entry and exit positions.
Using
ETHUSD
we can see that the conditions have been met before plotting buy and sell signals.
I have added alerts to help identify possible entry and exits and from there I manually enter or exit / adjust stop-loss. For example, sometimes it will print a sell signal because stochastic crossed over but RSI is still rising so I will adjust a tighter stop-loss to capture further gain if they are there.
Test it out, adjust the settings to see if you can find better results, and let me know!
Versionsinformation:
Alerts updated.