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Trade Entry with Bollinger Bands in down-market for Amibroker (AFL)

Rating:
3 / 5 (Votes 8)
Tags:
trading system, amibroker, exploration, bands

Bollinger bands are really fantastic in providing with a limiting value or a standard deviation of the price-hikes. It is also found that if two Bollinger Bands of different parameters are overlapped over one another than it gives a finer edge for the trade entry.

There are actually two Bollingers used in the formula, but only the bottom part is drawn as this formula depicts the entries in the down trend of the market only. It possibly can well be extended for the upmarket. If anyone can do that addition it’ll be appreciated to have it here too :)

I have tried to mimic that in the formula below. Please do feel free to change the formula or comment your findings and pitfalls or benefits of this indicator in your trade.

Enjoy the indicator.

Disclaimer: The author and the site do not guarantee any accuracy of this indicator as well as any loss or profit incurring from using it. Please use only for study and entertainment purpose.

Screenshots

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7 comments

1. lovebliss

Well done!

2. lovebliss

Very interesting indicator indeed! Could you please elaborate a little bit more on using the down arrow and the up triangle signals? Or direct me to place where I can find more info? Great job!

3. Agoon

Thanks, nice indicator

4. waelalamoudi

thanks, its great

5. rh0390

really nice,

is it possible to draw upper band in same logic..

if yes then what will be the formula??

6. Divyesh

Hello, Mr.Day Treader !
Amaizing excellant work !

really it works line anything…..!

would you please, please, please create same indicators for short….!!!
i had tried, but failed….!

so please please please….create and post here for every one…..!

@Admin, Sir if Day Treader is not awailable at our site than please give his email address…..
wating like anything…..!

7. johnli

This is really nice work! Thanks.

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