OPEN-SOURCE SCRIPT

BB + MA / Owl of Profit

This strategy combines Bollinger Bands (BB) and a Moving Average (MA) to identify trend-following entry and exit signals. It leverages Bollinger Bands for volatility-based breakouts and a Moving Average for trend confirmation.

Features:

Bollinger Bands:

Detects price volatility with customizable period and multiplier.
Generates signals based on price crossing the upper or lower bands.
Moving Average:

Supports both SMA (Simple Moving Average) and EMA (Exponential Moving Average).
Confirms trend direction for entry and exit conditions.
Entry Conditions:

Long: Price crosses above the lower Bollinger Band and is above the MA.
Short: Price crosses below the upper Bollinger Band and is below the MA.
Exit Conditions:

Long Exit: Price crosses below the MA or drops below it.
Short Exit: Price crosses above the MA or rises above it.
Customization Options:

Adjust Bollinger Bands period and multiplier for volatility sensitivity.
Choose between SMA or EMA for the Moving Average.
Visualization:

Bollinger Bands with shaded areas for easy identification of price ranges.
Visual markers for entry and exit signals directly on the chart.
This strategy is designed for educational and testing purposes. Use it as a foundation for further customization and backtesting on your preferred markets.

Visit my website for more tools and strategies: bybitindicators.com

Happy trading!

Penafian