PROTECTED SOURCE SCRIPT
Directional Bollinger Bands Predictor
This strategy works on the principal that if Bollinger bands are closer to each other then the price is sideways and if it expands then the market is trending.
The strategy is built with a standard deviation of 2 from the EMA 20 and with a range of 0.25.
Explanation of Input Settings:
1. EMA Length: Set as a standard 20 EMA however the trader can make changes if required
2. Standard Deviation Multiplier: This depicts the value of the bands that are formed in association to the EMA value. The default is set to 2 however the same can be changed by the trader.
3. Threshold Value: The threshold Value is the percentage of squeeze within the bands that show if the market is sideways or not. The standard is set at 0.25 however it can be changed.
Unlike the standard Bollinger Bands this indicator will help the user differentiate between rangebound markets and trending markets as a result of which the user can deploy the following trading systems
A. Small reversal trades from the upper band to the lower band when the area is highlighted and the market is range bound and
B. Trend following trades when the bands start expanding and the highlight is omitted.
The strategy is built with a standard deviation of 2 from the EMA 20 and with a range of 0.25.
Explanation of Input Settings:
1. EMA Length: Set as a standard 20 EMA however the trader can make changes if required
2. Standard Deviation Multiplier: This depicts the value of the bands that are formed in association to the EMA value. The default is set to 2 however the same can be changed by the trader.
3. Threshold Value: The threshold Value is the percentage of squeeze within the bands that show if the market is sideways or not. The standard is set at 0.25 however it can be changed.
Unlike the standard Bollinger Bands this indicator will help the user differentiate between rangebound markets and trending markets as a result of which the user can deploy the following trading systems
A. Small reversal trades from the upper band to the lower band when the area is highlighted and the market is range bound and
B. Trend following trades when the bands start expanding and the highlight is omitted.
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