OPEN-SOURCE SCRIPT
Trading Strategy based on BB/KC squeeze

**** [Edit: New version (v02) posted, see the comments section for the code *****
Simple strategy. You only consider taking a squeeze play when both the upper and lower Bollinger Bands go inside the Keltner Channel. When the Bollinger Bands (BOTH lines) start to come out of the Keltner Channel, the squeeze has been released and a move is about to take place.
I have added more support indicators -- I highlight the bullish / bearish KC breaches (using GREEN/RED crosses) and a SAR to see where price action is trending.
Appreciate any feedback. Enjoy!
Color codes for v02:
----------------------------
When both the upper and lower Bollinger Bands go inside the Keltner Channel, the squeeze is on and is highlighted in RED.
When the Bollinger Bands (BOTH lines) start to come out of the Keltner Channel, the squeeze has been released and is highlighted in GREEN.
When one of the Bollinger Bands is out of Keltner Channel, no highlighting is done (this means, the background color shows up, so don't get confused if you have RED/GREEN in your chart's bground :))
Color codes for v01:
----------------------------
When both the upper and lower Bollinger Bands go inside the Keltner Channel, the squeeze is on and is highlighted in YELLOW.
When the Bollinger Bands (BOTH lines) start to come out of the Keltner Channel, the squeeze has been released and is highlighted in BLUE.
Simple strategy. You only consider taking a squeeze play when both the upper and lower Bollinger Bands go inside the Keltner Channel. When the Bollinger Bands (BOTH lines) start to come out of the Keltner Channel, the squeeze has been released and a move is about to take place.
I have added more support indicators -- I highlight the bullish / bearish KC breaches (using GREEN/RED crosses) and a SAR to see where price action is trending.
Appreciate any feedback. Enjoy!
Color codes for v02:
----------------------------
When both the upper and lower Bollinger Bands go inside the Keltner Channel, the squeeze is on and is highlighted in RED.
When the Bollinger Bands (BOTH lines) start to come out of the Keltner Channel, the squeeze has been released and is highlighted in GREEN.
When one of the Bollinger Bands is out of Keltner Channel, no highlighting is done (this means, the background color shows up, so don't get confused if you have RED/GREEN in your chart's bground :))
Color codes for v01:
----------------------------
When both the upper and lower Bollinger Bands go inside the Keltner Channel, the squeeze is on and is highlighted in YELLOW.
When the Bollinger Bands (BOTH lines) start to come out of the Keltner Channel, the squeeze has been released and is highlighted in BLUE.
Açık kaynak kodlu komut dosyası
Gerçek TradingView ruhuna uygun olarak, bu komut dosyasının oluşturucusu bunu açık kaynaklı hale getirmiştir, böylece yatırımcılar betiğin işlevselliğini inceleyip doğrulayabilir. Yazara saygı! Ücretsiz olarak kullanabilirsiniz, ancak kodu yeniden yayınlamanın Site Kurallarımıza tabi olduğunu unutmayın.
List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
List of my indicators at Appstore: blog.tradingview.com/?p=970
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Açık kaynak kodlu komut dosyası
Gerçek TradingView ruhuna uygun olarak, bu komut dosyasının oluşturucusu bunu açık kaynaklı hale getirmiştir, böylece yatırımcılar betiğin işlevselliğini inceleyip doğrulayabilir. Yazara saygı! Ücretsiz olarak kullanabilirsiniz, ancak kodu yeniden yayınlamanın Site Kurallarımıza tabi olduğunu unutmayın.
List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
List of my indicators at Appstore: blog.tradingview.com/?p=970
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.