Applies Bollinger Bands on both a primary and a higher timeframe. Trades when price pierces the higher timeframe bands and optionally filters entries with a long-term moving average. The goal is to fade extremes against the broader trend.
The strategy supports both long and short positions. A stop-loss percentage can be enabled for risk management. Using multiple timeframes helps to avoid trades against dominant market structure.
Entry Criteria:
Long: Close below the higher timeframe lower band and above the MA filter (if enabled).
Short: Close above the higher timeframe upper band and below the MA filter (if enabled).
[*]Exit Criteria:
Long: Price closes above the current timeframe upper band.
Short: Price closes below the current timeframe lower band.
[*]Indicators:
Bollinger Bands on two timeframes (length 20, multiplier 2)
Optional EMA filter (period 200)
[]Stops: Optional stop-loss via StartProtection (% based).
[]Default Values:
BBLength = 20
BBMultiplier = 2.0
UseMaFilter = False
MaLength = 200
SLPercent = 2
[*]Filters:
Counter-trend with MTF context
Timeframe: main 5m, MTF 60m by default
Indicators: Bollinger Bands, EMA
Stops: optional
Complexity: Moderate