OPEN-SOURCE SCRIPT
BBSS - Bollinger Bands Scalping Signals
Modified Bollinger Bands Indicator
Added:
- color change divergence (green) and narrowing (red) of the upper and lower bands
- color change of the moving average - upward trend (green) and downward trend (red)
- the appearance of a potential signal for long and short positions when the candle closes behind the upper or lower bands.
How to use the indicator:
Long conditions:
- the price breaks through the upper band
- Bollinger bands are expanding and should be green
- the mid-line is green
- the trigger candle should be green
Short conditions:
- the price breaks through the lower band
- Bollinger bands are expanding and should be red
- the mid-line is red
- the trigger candle should be red
Added:
- color change divergence (green) and narrowing (red) of the upper and lower bands
- color change of the moving average - upward trend (green) and downward trend (red)
- the appearance of a potential signal for long and short positions when the candle closes behind the upper or lower bands.
How to use the indicator:
Long conditions:
- the price breaks through the upper band
- Bollinger bands are expanding and should be green
- the mid-line is green
- the trigger candle should be green
Short conditions:
- the price breaks through the lower band
- Bollinger bands are expanding and should be red
- the mid-line is red
- the trigger candle should be red
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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