OPEN-SOURCE SCRIPT
Bollinger Bands MTF x2 + 4 SMAs + VWAP
B + SMA + VWAP Combination - This is a high probability Intraday setup.Used mostly for expiry day / intraday stock trading to avoid false breakouts.The 3 Indicators Logic:1. VWAP (Volume Weighted Average Price) = Trend FilterPrice > VWAP = Only look for BUY
Price < VWAP = Only look for SELL
VWAP is your bias.2. SMA (20 or 50 SMA) = Trend ConfirmationPrice above 20 SMA + VWAP = Strong uptrend
Price below 20 SMA + VWAP = Strong downtrend3. Bollinger Band (20,2) = Entry / Exit PointBB gives you overbought / oversold + squeeze.The Combination Setup (My most used)Setup in TradingView: Add VWAP + BB (20,2) + SMA 20. Make SMA 20 slightly thicker.BULLISH BUY Setup:Price is ABOVE VWAPPrice is ABOVE 20 SMAPrice comes and touches LOWER Bollinger Band but does NOT close below VWAPWait for a bullish candle close above 20 SMA againEntry: Next candle open after close above 20 SMA
Stop Loss: Below Lower BB or below VWAP (whichever is closer - max 0.5% for stocks)
Target: Upper BB -> then VWAP extension -> Middle BB to Upper BB is 1:2 RRBEARISH SELL Setup - Exact opposite:Price is BELOW VWAPPrice is BELOW 20 SMAPrice touches UPPER BBBearish rejection candle below 20 SMAEntry: Short below 20 SMA
SL: Above Upper BB or above VWAP
Target: Lower BBPro Tips:BB Squeeze + VWAP: When BB becomes very narrow (squeeze) near VWAP, big breakout is coming. If price breaks above SMA + VWAP with volume, it's 3-4% move in 15 min.Avoid: Don't trade when price is stuck between 20 SMA and VWAP - that's no-trade zone. Choppy.Best Timeframe: 5-min for Nifty/BankNifty, 15-min for stocks.Filter with SEBI news: After SEBI weekly expiry rule, this setup will work even better on monthly expiry - less fake moves.
Price < VWAP = Only look for SELL
VWAP is your bias.2. SMA (20 or 50 SMA) = Trend ConfirmationPrice above 20 SMA + VWAP = Strong uptrend
Price below 20 SMA + VWAP = Strong downtrend3. Bollinger Band (20,2) = Entry / Exit PointBB gives you overbought / oversold + squeeze.The Combination Setup (My most used)Setup in TradingView: Add VWAP + BB (20,2) + SMA 20. Make SMA 20 slightly thicker.BULLISH BUY Setup:Price is ABOVE VWAPPrice is ABOVE 20 SMAPrice comes and touches LOWER Bollinger Band but does NOT close below VWAPWait for a bullish candle close above 20 SMA againEntry: Next candle open after close above 20 SMA
Stop Loss: Below Lower BB or below VWAP (whichever is closer - max 0.5% for stocks)
Target: Upper BB -> then VWAP extension -> Middle BB to Upper BB is 1:2 RRBEARISH SELL Setup - Exact opposite:Price is BELOW VWAPPrice is BELOW 20 SMAPrice touches UPPER BBBearish rejection candle below 20 SMAEntry: Short below 20 SMA
SL: Above Upper BB or above VWAP
Target: Lower BBPro Tips:BB Squeeze + VWAP: When BB becomes very narrow (squeeze) near VWAP, big breakout is coming. If price breaks above SMA + VWAP with volume, it's 3-4% move in 15 min.Avoid: Don't trade when price is stuck between 20 SMA and VWAP - that's no-trade zone. Choppy.Best Timeframe: 5-min for Nifty/BankNifty, 15-min for stocks.Filter with SEBI news: After SEBI weekly expiry rule, this setup will work even better on monthly expiry - less fake moves.
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Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.