Bollinger Fanboy v4.0
Set spread value from your broker, eg my broker has a spread of 0.0003 for EURUSD. You can set your required profit ratio eg 1.5 means risk 1 to win 1.5. Enter if price crosses orange (or set a buy stop order or sell limit order) and set stoploss at red and take profit at green. Setup lasts for 20 bars. If it doesn't cross the orange in that time, forget it. Long if red is below orange, short if red is above orange. Recommended to be used on 4H, D, W charts only. Use at your own risk. I cannot be held liable for any damages financial or otherwise, directly or indirectly related to using this script and trading strategy.
Copyright 2014 Michael Edwards (info@bollingerfanboy.com)
www.bollingerfanboy.com
Copyright 2014 Michael Edwards (info@bollingerfanboy.com)
www.bollingerfanboy.com
study(title="Bollinger Fanboy", shorttitle="Bollinger Fanboy", overlay=true) bf_spread = input(title="Spread", type=float, defval=0.0000) bf_period = 20 bf_stddev = 2 bf_profit = input(title="Profit Ratio", type=float, defval=1.50) bf_rsi = 30 bf_rsi_inner = 10 bf_middle = sma(close, bf_period) bf_top = bf_middle + (stdev(close, bf_period) * bf_stddev) bf_bottom = bf_middle - (stdev(close, bf_period) * bf_stddev) bf_height = ((high + bf_spread) - (low - bf_spread)) * bf_profit bf_short_entry = low - bf_spread bf_short_stop = high + bf_spread bf_short_exit = bf_short_entry - bf_height bf_long_entry = high + bf_spread bf_long_stop = low - bf_spread bf_long_exit = bf_long_entry + bf_height bf_long = close < bf_middle ? (close > bf_bottom ? true : false) : false bf_short = close > bf_middle ? (close < bf_top ? true : false) : false bf_lowest = low == lowest(bf_period / 2) ? ( low < bf_bottom ? true : false ) : false bf_highest = high == highest(bf_period / 2) ? ( high > bf_top ? true : false ) : false bf_rsi_long = rsi(close, 20) > (50 + bf_rsi_inner) ? (rsi(close, 20) < (50 + bf_rsi) ? true : false) : false bf_rsi_short = rsi(close, 20) < (50 - bf_rsi_inner) ? (rsi(close, 20) > (50 - bf_rsi) ? true : false) : false bf_go_long = bf_long ? ( bf_lowest ? ( bf_long_exit < (bf_middle - bf_spread) ? (bf_rsi_short ? true : false) : false ) : false ) : false bf_go_short = bf_short ? ( bf_highest ? ( bf_short_exit > (bf_middle + bf_spread) ? (bf_rsi_long ? true : false) : false ) : false ) : false bf_enter = bf_go_long ? bf_long_entry : ( bf_go_short ? bf_short_entry : bf_enter[1] ) bf_exit = bf_go_long ? bf_long_exit : ( bf_go_short ? bf_short_exit : bf_exit[1] ) bf_stop = bf_go_long ? bf_long_stop : ( bf_go_short ? bf_short_stop : bf_stop[1] ) plot(bf_enter == bf_enter[bf_period] ? na : bf_enter, title="Entry", color=orange, style=circles, linewidth=2) plot(bf_enter == bf_enter[bf_period] ? na : bf_exit, title="Exit", color=green, style=circles, linewidth=2) plot(bf_enter == bf_enter[bf_period] ? na : bf_stop, title="Stop", color=red, style=circles, linewidth=2)