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.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
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
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
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
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.