OPEN-SOURCE SCRIPT
FTT Plus BBMA
The FTT Plus BBMA indicator combines Bollinger Bands with a unique 3-candle momentum pattern to identify potential trend reversal signals. It is designed for traders who follow price action and volatility-based strategies.
🔹 How It Works:
Bollinger Bands (20, 2) – Used to identify overbought and oversold conditions. The upper and lower bands act as dynamic support/resistance levels.
FTT Candlestick Pattern – A 3-bar pattern that confirms momentum shifts before a potential breakout.
🔹 Bullish Signal (BUY):
Triggered when the following conditions are met:
Candle-2: Bullish (close > open)
Candle-1: Bearish (close < open)
Current Candle: Bullish (close > open)
Price breaks above the previous high
Price closes above the upper Bollinger Band
🔹 Bearish Signal (SELL):
Triggered when:
Candle-2: Bearish (close < open)
Candle-1: Bullish (close > open)
Current Candle: Bearish (close < open)
Price breaks below the previous low
Price closes below the lower Bollinger Band
🔹 Visual Features:
Candles are highlighted in cyan for bullish signals and yellow for bearish signals.
BUY (triangle up) and SELL (triangle down) labels appear directly on the chart.
Built-in alert conditions for both signals (BUY / SELL).
🔹 Best Used On:
Timeframes: 5min to 1 hour (scalping & intraday)
Markets: Forex, Crypto, Stocks, Indices
🔹 Note:
This indicator works best in trending or high-volatility conditions. Avoid using in choppy or sideways markets without additional filters.
🔹 How It Works:
Bollinger Bands (20, 2) – Used to identify overbought and oversold conditions. The upper and lower bands act as dynamic support/resistance levels.
FTT Candlestick Pattern – A 3-bar pattern that confirms momentum shifts before a potential breakout.
🔹 Bullish Signal (BUY):
Triggered when the following conditions are met:
Candle-2: Bullish (close > open)
Candle-1: Bearish (close < open)
Current Candle: Bullish (close > open)
Price breaks above the previous high
Price closes above the upper Bollinger Band
🔹 Bearish Signal (SELL):
Triggered when:
Candle-2: Bearish (close < open)
Candle-1: Bullish (close > open)
Current Candle: Bearish (close < open)
Price breaks below the previous low
Price closes below the lower Bollinger Band
🔹 Visual Features:
Candles are highlighted in cyan for bullish signals and yellow for bearish signals.
BUY (triangle up) and SELL (triangle down) labels appear directly on the chart.
Built-in alert conditions for both signals (BUY / SELL).
🔹 Best Used On:
Timeframes: 5min to 1 hour (scalping & intraday)
Markets: Forex, Crypto, Stocks, Indices
🔹 Note:
This indicator works best in trending or high-volatility conditions. Avoid using in choppy or sideways markets without additional filters.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.