Bollinger Band Volume Breakout Detector
- Indicators
- Thushara Dissanayake
- Version: 1.0
- Activations: 20
Introducing the Bollinger Band Volume Breakout Detector, a powerful technical indicator designed to enhance the popular Bollinger Band Breakout Strategy. This indicator takes trend following to the next level by incorporating Volume Data, effectively minimizing false signals. By adhering to the principle of "volume confirms price," this tool allows traders to identify price breakouts accompanied by significant increases in volume, ensuring more accurate trading decisions. The indicator's customizability empowers traders to fine tune their own strategies by leveraging volume data.
One of the key features of this indicator is its fully customizable Bollinger Band, which can be tailored to individual preferences. Additionally, the integration of volume data is visually represented through color coded battles against the Moving Average (MA), enabling easy identification of volume breakouts in relation to the 22 day average. Traders can receive notifications via mobile alerts, pop-up messages, and email alerts, notifying them of volume breakouts above the 22 day average and price breakouts above or below the upper and lower bands. Each notification method can be individually activated or deactivated based on preference.
To further assist traders, the indicator presents relevant data in an additional Data panel, providing valuable insights into market dynamics. Furthermore, this versatile tool is suitable for application across various symbols, ensuring its usefulness in diverse trading scenarios.
The indicator's parameters offer flexibility and control over trading decisions. The Bollinger Signal Filter allows users to choose the Moving Average (MA) method and Applied Price for calculations, while the Period parameter determines the averaging period. Traders can set the Bands Deviations to establish the Bollinger band breakout threshold in terms of sigma. The Volume Signal Filter incorporates the Bull Bear Percentage, facilitating the identification of stronger bull or bear candles, and the Volume Breakout Level sets the volume breakout threshold. The Alert Filter, with options such as Alert Reset By, Pop-Up Alert activation, Email Alert activation, Mobile Alert activation, and Arrow Distance, provides additional customization options to suit individual preferences.
Improve your trading strategies with the Bollinger Band Volume Breakout Detector, a comprehensive tool based on the Bollinger Band Breakout strategy augmented with volume analysis. This indicator empowers traders to make informed decisions by combining price and volume data effectively.
Parameters
- Bollinger Signal Filter - Customize Bollinger indicator.
- Volume Signal Filter - Customize volume indicator.
- Alert Filter - Customize alerts for specific conditions.