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Anpex  

It is an excellent break out indicator. Provides reliable visual signals with the bollinger band. The% volume indicator which indicates Buy and Sell is not very precise. It would be excellent if it could also indicate the signal values ​​(Upper Band, Lower Band, Median Band, Median Color, Yellow, Red Median Color, Celestial Median Color) to use it with the EA.
steedchitra  
how do I turn on the arrow sign?
Thushara Dissanayake  

The Bollinger Band and Volume data can be used in trading for various purposes:

  • Identifying Breakouts: Bollinger Bands can help traders identify potential breakouts when price moves outside the bands, indicating a potential shift in market direction.

  • Confirming Price Movements: Volume data can be used to validate price movements. When volume increases along with price, it provides confirmation of the trend and reduces the likelihood of false signals.

  • Assessing Trend Strength: By analyzing the width of the Bollinger Bands, traders can gauge the strength of the current trend. Narrow bands indicate low volatility and a potential upcoming price breakout, while wide bands suggest high volatility and a stable trend.

  • Spotting Reversals: Bollinger Bands can assist in identifying potential trend reversals. When the price touches or crosses the outer bands and then reverses, it may signal an impending reversal in the market.

  • Analyzing Volume Breakouts: Volume data can reveal significant shifts in market sentiment. Monitoring volume breakouts above or below the average volume can help traders identify potential trading opportunities.

  • Setting Stop Loss and Take Profit Levels: The Bollinger Bands can serve as a reference for setting stop loss and take profit levels. Traders may choose to place their stop loss orders below the lower band in an uptrend and above the upper band in a downtrend.

  • Verifying Support and Resistance Levels: Bollinger Bands can act as dynamic support and resistance levels. When the price approaches the bands, it may encounter resistance or support, providing traders with valuable insights for their trading decisions.

  • Fine-tuning Trading Strategies: Combining Bollinger Bands with Volume data allows traders to customize their trading strategies based on their unique preferences and risk tolerance. This combination provides a more comprehensive analysis of market conditions.

  • Enhancing Risk Management: By incorporating Bollinger Bands and Volume data, traders can make more informed risk management decisions. This includes adjusting position sizes, setting appropriate stop loss levels, and evaluating the potential reward-to-risk ratio.

  • Improving Trade Timing: The Bollinger Bands and Volume data can help traders refine their entry and exit points by providing signals that align with both price movements and significant changes in trading volume.



Strategy:

  • Calculate the 22 day trading day volatility and multiply it by 2.
  • Check if the recent trading volume is 1.2 times higher than the 22  day average volume.
  • For entry, the end of day rate should be above (or below) the breakout threshold.
  • For exit, the end of day rate should be below (or above) the 22 day Simple Moving Average (SMA).
  • Execute trades daily at the 16:00 GMT rate.



Advantages of choosing Bollinger Band Volume Breakout Detector as your trading indicator:

  • Enhanced Breakout Identification: The indicator combines Bollinger Bands and Volume data, providing a powerful tool to identify potential breakouts with higher accuracy and reliability.

  • Confirmation with Volume Data: By incorporating volume data, the indicator confirms price movements, reducing the likelihood of false signals and improving the overall quality of trading decisions.

  • Customizable Bollinger Bands: The indicator allows for full customization of the Bollinger Bands, enabling traders to adapt the indicator to their specific trading preferences and strategies.

  • Visual Representation of Volume Battles: The indicator visually represents volume battles against the Moving Average (MA), making it easier to identify volume breakouts and their significance.

  • Multi Channel Notifications: Traders can receive notifications through mobile alerts, pop-up messages, and email alerts, ensuring timely awareness of volume breakouts and price breakouts.

  • Flexible Alert Settings: Each notification method can be individually activated or deactivated, allowing traders to choose their preferred mode of receiving alerts.

  • Additional Data Panel: The indicator provides an additional Data panel, offering valuable insights into market dynamics and aiding traders in making well informed trading decisions.

  • Suitable for Multiple Symbols: The indicator is suitable for application across various symbols, making it versatile and adaptable to different trading scenarios and instruments.

  • Fine tune Your Trading Strategies: Traders can improve their own trading strategies by leveraging the Bollinger Band Volume Breakout Detector and incorporating volume data, adding an extra layer of analysis and precision.
Thushara Dissanayake  

v1.0 Features

  • Fully Customizable Bollinger Band: Customize the Bollinger Bands according to your preferences, allowing you to tailor the indicator to your specific trading style and requirements.

  • Volume Battle with MA: The indicator incorporates volume data and visually represents volume battles against the Moving Average (MA) using different colors. This feature enables easy identification of volume breakouts and their significance in relation to the SMA.

  • Multi Channel Notifications: Receive timely alerts through mobile notifications, pop-up messages, and email alerts. Stay informed about volume breakouts when they occur above the 22 day average and price breakouts beyond the upper or lower bands.

  • Notification Activation/Deactivation: Customize each notification method individually, giving you full control over which alerts you receive. Activate or deactivate mobile alerts, pop-up messages, and email notifications according to your preference.

  • Additional Data Panel: Access a dedicated Data panel that displays essential indicator data. This feature provides valuable insights into market dynamics, helping you make informed trading decisions based on comprehensive information.

  • Universal Applicability: The indicator is suitable for every symbol, making it versatile and adaptable to various financial instruments and markets. Expand your trading opportunities and apply the indicator to a wide range of symbols.

  • Advanced Alert Customization: Configure additional parameters such as notification filters, reset periods, and distance for drawing arrows from candle highs/lows. These advanced customization options allow you to fine-tune the indicator's behavior to align with your trading strategy.


v1.0 Parameters

  • Bollinger Signal Filter
    • MA Method - Moving Average method
    • Applied Price - Applied price
    • Period - Averaging period for calculation
    • Bands Deviations - The Bollinger band breakout threshold in units of sigma
  • Volume Signal Filter
    • Bull Bear Percentage - Percentage for identify stronger bull/bear candles
    • Volume Breakout Level - The volume breakout threshold
  • Alert Filter
    • Alert Reset By - The time period for notify the same level alert again
    • Pop Up Alert - Activate/ Deactivate pop up message alerts
    • Email Alert - Activate/ Deactivate, Email alerts
    • Mobile Alert - Activate/ Deactivate, Mobile notifications
    • Arrow Distance -  Distance for draw arrow from candle high/low

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