Bollinger Band Layer Entry (BBLE)

25 Nov 2021

The Bollinger Band Layer Entry Indicator uses plenty of Bollinger Bands to create an onion-looking layered indicator to help with layered entries. It is similar to a Ribbon but better. This indicator is best used with any volume-related indicator so you can recede from entering into any position with too much momentum to rebound off of any line. Note that this indicator is best used with another strategy like pair trading. It is not recommended to trade based on this indicator only. Please stay aware of any news about the stock you are trading because some events may have a big impact and force the market to go bullish/bearish by a lot. This indicator can be used with all chart types and works well with many other indicators. It allows for complete customization and offers easy-to-understand settings which can be designated to a certain individual. You can modify every single factor of the BBs which allows for an even more personalized and adapted Indicator that reflects your trading/ investing needs. You also have the option to choose which type of MAs will be used to create the Bollinger Bands, a few of which include: EMA, SMA, WMA, HMA, RMA, DMA, LSMA, VAMA, TMA, MF.

Bollinger Bands are a way to measure and visualize volatility. As volatility increases, the wider the bands become, and the more they deviate from the basis. Vice versa, when volatility decreases, the gap between the bands and basis decreases. Yet a big advantage for not only this but many other indicators is created due to the ample count of different settings that are widely used, it is difficult to view the market through the eyes of all types of investors/traders. This indicator manages to counter exactly this issue, you will be able to see all of these settings on one chart and at one time and enter/exit positions accordingly.
Using this indicator will allow you to visualize entries with ease and make order layering (buying/selling in layers) much more simple. You can choose a certain amount of Bollinger Bands you would like displayed and customize all technical and style-related settings related to each of the BBs separately.

A few of the technical settings you can change for each Bollinger Band are:

• Bollinger Band count (Select how many BBs you want to be displayed.)
  
• MA type used to make the Bollinger Bands (EMA, SMA, WMA, etc.)
  
• Source (close, open, high, low.)
  
• BB length (The length of each Bollinger Band, its lookback. How many previous candles should it be based on? Choose each Bollinger Band's lookback length.)
  
• BB deviator (The standard Deviator applied for the BB for both the upper and lower line.)
  
• Offset
  

A few of the style settings you can change for each Bollinger Band are:

• Upper, Lower, Basis line opacity % (separate for each)
  
• Upper, Lower, Basis line color (separate for each)
  
• Fill (the color used to fill from the upper to the lower band) (separate for each)
  
• Fill opacity % (the opacity used when filling the upper line to the lower line) (separate for each)
  

This indicator is unique because it can be used for all strategies and all trading styles, for example, day trading or long-term investing, really anything if used correctly. The reason it can be used in so many instances is a result of the detailed and in-depth settings tab that allows complete customization of each separate Bollinger Band. This allows the indicator to be used and to be useful in various situations and allows you to dominate the market. Integrated alerts also enhance your efficiency while using this indicator because you can choose to be notified at the crossing of any of the Bollinger Bands.

The technical part of this indicator plots the selected amount of Bollinger Bands using custom-built specified Bollinger Bands accordingly. Then it uses the style settings and styles it as you selected.