OPEN-SOURCE SCRIPT
Bollinger Bands Fibonacci Ratios Strategy
Hello, everyone!
We have just released an innovative strategy for TradingView. It allows you to identify price pivot points and volatility.
This strategy is:
Features
Thanks to the BB Fibo strategy, you can:
Note! The upper bands are for the Long position. The lower bands are for the Short positions.
Parameters
We have equipped our strategy with more than 14 additional parameters. So, you can configure the EA according to your needs!
We have just released an innovative strategy for TradingView. It allows you to identify price pivot points and volatility.
This strategy is:
- User-friendly
- Configurable
- Equipped with Bollinger Bands and smoothed ATR to measure volatility
Features
Thanks to the BB Fibo strategy, you can:
- Trade stocks and commodities.
- Identify price pivot points.
- Choose any band for trading Long or Short positions.
- Swap upper and lower bands applying Use Reverse Buy/Sell parameters.
Note! The upper bands are for the Long position. The lower bands are for the Short positions.
Parameters
We have equipped our strategy with more than 14 additional parameters. So, you can configure the EA according to your needs!
- Inputs:
- Length
- Source: Open, High, Low, Close, HL2, HLC3, OHLC4
- Offset
- Fibonacci Ratio 1 — a Fibonacci factor for the 1st upper and lower indicator lines calculating.
- Fibonacci Ratio 2 — a Fibonacci factor for the 2nd upper and lower indicator lines calculating.
- Fibonacci Ratio 3 — a Fibonacci factor for the 3d upper and lower indicator lines calculating.
- Use Reverse Buy — the strategy will use lower Bollinger bands instead of upper ones.
- Fibonacci Buy — band selection for opening Long positions conditions.
- Use Reverse Sell — the strategy will use upper Bollinger bands instead of lower ones.
- Fibonacci Sell — band selection for opening Short positions conditions.
- Style:
- Basis — baseline color and style settings.
- Upper 3 — the 3d upper line color and style.
- Upper 2 — the 2nd upper line color and style.
- Upper 1 — the 1st upper line color and style.
- Lower 1 — the 1st lower line color and style.
- Lower 2 — the 2nd lower line color and style.
- Lower 3 — the 3d upper line color and style.
- Background — the background color within the 3d upper and 3d lower indicator band.
- Precision — the number of decimals for BB Fibo values.
Note! Try BB Fibo on your demo account first before going live.
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.
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.