ChannelTrend

Bollinger Band Moving Average (BBMA)

This is indicator using BB and MA and this what we called BBMA Strategy by Oma Ally.

BBMA Oma Ally Trading Technique (credit to Oma Ally)

In BBMA, BB ( Bollinger Bands ) act as Dynamic Support and Resistance .

SETTING OF BBMA - BOLLINGER BANDS
Period : 20
Deviations : 2
Shift : 0
Apply to : Close

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MA (Moving Average) are used to detect potential entry point. but in this indicator you can use either WMA , EMA , SMA , DEMA or TEMA .

SETTING OF BBMA - MOVING AVERAGE

Ma 5 Hi
Period : 5
Ma Method : Linear Weighted
Apply to : High
Style : Orange

Ma 10 Hi
Period : 10
Ma Method : Linear Weighted
Apply to : High
Style : Red

Ma 5 Low
Period : 5
Ma Method : Linear Weighted
Apply to : Low
Style : Purple

Ma 10 Low
Period : 10
Ma Method : Linear Weighted
Apply to : Low
Style : Fuchsia

Ma 50 (MA Trend)
Period : 50
Ma Method : Exponential
Apply to : Close
Style : Blue

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Color Bar Candle :

RED : Close below lower band
GREEN/LIME : Close/breakout upper band

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EXTREME (SIGNAL)
Extreme is an early signal to say the Market journey is beginning to end - but not yet confirmed
Will only confirm when there is a reversal candle.
Extreme is not valid when there is a CS_ momentum, although Ma outside BB.

CHARACTERISTICS OF EXTREME
Ma out of Top / Low BB (will not valid if there is cs_ momentum, although Ma is outside BB)
Reverse candle must exist, as it indicates the journey of a Market is ending (not necessarily 1 or 2 cs_)
Retest candle (entry point)
Entry at Highest or Lowest volume
Entry retest candle at Ma 5 or body candle

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MHV_ (LOSS VOLUME MARKET) (SETUP)
It is a setup for the beginning of long distance Market journey
This setup gives a validation for the Extreme signal earlier
It is to show the loss of strength for the market.
MHV_ is valid once CS_ (direction candle) appear
***If the candle close NOT above or below Top / Low BB after the first Reentry, after MHV_ there is a directional candlestick , then there will be a reentry and after the reentry there is no momentum “COMPULSORY TP”

CHARACTERISTICS OF MHV_ :
Candle CANNOT close above or below Top / Low BB
Must have reverse candle, because reverse candle is confirming the end of the journey (Marking at candle body)
Retest candle (entry point) at Ma 5 or highest volume / lowest at that current time
Must happen after Extreme

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RE-ENTRY

CHARACTERISTICS OF REENTRY
Candle close can not pass Ma 5 / Ma 10
It will be strong when the candle close does not pass Ma 5 / Ma 10 and also Mid BB
Candle close did not come in. He found Ma 5 / Ma 10 and mid BB at that Time would make the re-entry stronger
If there is a re-entry in Ma 5 / Ma 10 and mid BB, the minimum of 3 drops of candles or increments (follow TF) re-entry will be strong
Following market trend, then just search for re-entry and entry
Wait for the second candle, because the first candle validates the reentry and the second candle is for entry

FEEL HAPPY TO USE THIS INDICATOR - DONT FORGET TO LIKE AND FOLLOW ME
Keluarkan daripada Skrip Pilihan Tambah kepada Skrip Pilihan
Hi bro can you add on EMA 200 in this script

thanks
Balas
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