BB Vicinity Reversal Signals

This indicator detects potential intraday reversal opportunities based on price action near the outer edges of Bollinger Bands (±2.7 std dev). Unlike traditional Bollinger Band signals that require strict band touches or crossings, this tool identifies reversals that occur in the vicinity of the outer bands, increasing signal frequency while maintaining logical precision.

✅ Key Features:
Buy Signal: Triggered when a bullish candle with a strong body forms near the lower Bollinger Band.

Sell Signal: Triggered when a bearish candle with a strong body forms near the upper Bollinger Band.

Vicinity logic: User-adjustable % range from the outer bands (default: 20%) to define how close price must be.

Body-to-candle ratio filter: Ensures that only meaningful directional candles trigger signals.

No repainting: All signals are generated in real-time based on confirmed candle closes.

Built-in alerts: Receive instant notifications for buy and sell setups.

This tool is ideal for traders looking to capture high-probability mean-reversion trades without being overly restrictive. It works well on intraday timeframes like 5m, 15m, and 1h.