OPEN-SOURCE SCRIPT
Updated Bollinger Breaks and Cycles Indicator - JD
The BBC indicator shows price in relation to the upper (in red) and lower (in green) Bollinger Bands
It highlights breaks in the Bands, where the 0-line represents a price equal to the band.
These breaks can either be used as take-profit points or as entry points, depending on trend direction.
Entries can be at the beginning of a break (eg. for impulse or continuation moves)
or at the end (mostly for expected trend reversals)
To find the best setups, the BBC should be accompanied by other indicators (preferably ones that focus on different aspects)
The oscilating line in the middle indicates market cycles
JD.
#NotTradingAdvice #DYOR
It highlights breaks in the Bands, where the 0-line represents a price equal to the band.
These breaks can either be used as take-profit points or as entry points, depending on trend direction.
Entries can be at the beginning of a break (eg. for impulse or continuation moves)
or at the end (mostly for expected trend reversals)
To find the best setups, the BBC should be accompanied by other indicators (preferably ones that focus on different aspects)
The oscilating line in the middle indicates market cycles
JD.
#NotTradingAdvice #DYOR
Release Notes
The oscilating line in the middle indicates market cycles.This line bounces between the upper and lower break-lines.
If the cycle line breaks above or below the zone, this usually indicates a strong reversal.
addidtions to the latest version:
- the fill color is determined on general market direction
- dots on the cycle line show probable turning or take-profit points
- up or down triangles show bounce points and thus higher probability turning points
JD.
Release Notes
Added a timeframe multiplier to be able to quickly reference longer timeframes.In this example I've added the BBC indicator on the current TF,
and a second one on a 10x timeframe.
JD.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer.
I AM NOT A FINANCIAL ADVISOR.
THESE IDEAS ARE NOT ADVICE AND ARE FOR EDUCATION PURPOSES ONLY.
ALWAYS DO YOUR OWN RESEARCH!
JD.
You can contact me for info/access in PM or on Telegram: @jduyck
PLS, DON'T ASK FOR ACCESS IN THE COMMENT SECTION!
I AM NOT A FINANCIAL ADVISOR.
THESE IDEAS ARE NOT ADVICE AND ARE FOR EDUCATION PURPOSES ONLY.
ALWAYS DO YOUR OWN RESEARCH!
JD.
You can contact me for info/access in PM or on Telegram: @jduyck
PLS, DON'T ASK FOR ACCESS IN THE COMMENT SECTION!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.