BBands Ext v2

Bollinger Bands Extended version 2
BBands Ext v2 in a trade bot

Signal Logic

The BBands Ext v2 will produce a buy signal when price has visited below and closed back above lower band. A sell signal is produced when price has visited above and closed back below upper band. These signals are kept until the reset conditions are met.

If [Reset Middle] is used, the signals are persistent until price crosses above middle band on buy signals, and below middle band on sell signals. If this parameter is not used, the signals are persistent until the opposite signal conditions are met.

If [Require FCC] is used, the signals will only start once the full candle (all prices from OHLC) has closed above lower band when buying and below upper band when selling. If this parameter is not used, the signals will start once only the close price comes back inside the bands. Use this parameter to filter out false break-ins back inside the bands during extremely volatile markets.

Parameters

  • Length

    • The period length of the Moving Average

  • Dev. Up

    • The deviation of the upper band

  • Dev. Down

    • The deviation of the lower band

  • MA Type

    • The type of Moving Average. Valid values are: sma, ema, dema, tema, trima, t3, mama, kama and wma

  • Require FCC? (y/n)

    • FCC stands for Full Candle Close. This means, that the whole candle must be inside the bands before signals start to generate when parameter is set to y. Otherwise only the close price has to cross back inside the bands.

  • Reset middle? (y/n)

    • Whether to stop signals on middle band (y) or on opposite signal (n)