yuthavithi's BB Scalper
A trend based BB scalper. It uses day time frame data to determine trend. When price moves above sma, it is up trend , otherwise it is down trend. the trading signal is determined in lower time frame using bband. In up trend, it will only buy and close when price reaches bb upper band. In downtrend it will do the opposite
study(title="yuthavithi's BB Scalper", shorttitle="YUTHAVITHI BB Scalper", overlay=true) len = input(20, minval=1, title="Length") multiplier = input(2, minval=1, title="multiplier") src = input(close, title="Source") out = sma(src, len) plot(out, title="SMA", color=blue) stdOut = stdev(close, len) bbUpper = out + stdOut * multiplier bbLower = out - stdOut * multiplier plot(bbUpper, color = orange) plot(bbLower, color = orange) closeLongTerm = security(tickerid, "D", close) smaLongTerm = security(tickerid, "D", sma(close,20)) plot(smaLongTerm, color=red) trendUp = (closeLongTerm > smaLongTerm) trendDown = (closeLongTerm < smaLongTerm) bearish = (cross(close,out) == 1) and (close[1] > close) and trendDown bullish = (cross(close,out) == 1) and (close[1] < close) and trendUp plotshape(bearish, color=red, style=shape.arrowdown, text="Sell", location=location.abovebar) plotshape(bullish, color=green, style=shape.arrowup, text="Buy", location=location.belowbar) closeBuy = (high[1] > bbUpper) and (close < bbUpper) and (close < open) closeSell = (low[1] < bbLower) and (close > bbLower) and (close > open) plotshape(closeSell, color=red, style=shape.arrowup, text="Close", location=location.belowbar) plotshape(closeBuy, color=green, style=shape.arrowdown, text="Close", location=location.abovebar)