Bollinger Bands/Stoch RSI Buy Signal V0.1 [Mr_Orange]

Jun 28, 2019

This my second published script, so if there are tips or questions, please let me know.

The goal of the script is to recognise a reversal pattern from bearish to bullish sentiment on a 3m and 5m timeframe. I want my trade entries to be "mechanically chosen" and not emotionally. I have not yet found a Bollinger and Stochastic RSI indicator which did what I wanted it to do, I've yet to find one of those, so I decided to study pine scripts and make one myself that works the way I want, and because I've written it myself, I understand how it works.

It is purely designed for lower timeframes and normal candles, please do not use it Heikin or Renko. Other timeframes I have not studied. At the moment I only included a Buy alert. I have not yet decided on a Sell signal/alert.

Thanks for checking it out! If you think it is worth something:
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Jul 1, 2019

Release Notes

Added a sell signal as well as a "extra confirmation option"

• Sell signal is based on overbought BB and StochRSI
  Buy signal is based on oversold BB and Stoch RSI
  Buy signal with extra confirmation is based on oversold BB and Stoch RSI but waits for K and D to cross in oversold condition
  

Jul 19, 2019

Release Notes

Improved sell signal, which waites for the crossing of K and D above the Stoch RSI overbough level. The option to use the simple sell signal is still available by unchecking the [sell confirmation] box