OPEN-SOURCE SCRIPT
M5_Bull/Bear BBO
M5_ Bull/Bear BBO is a derivative oscillator built from LuxAlgo’s original Bollinger Bands Breakout Oscillator (BBO).
This version restructures the original breakout logic into a bull / bear adaptive oscillator, introduces inverted symmetry, and expands the visual system with dynamic level states and conditional color logic. The goal is to provide contextual momentum awareness rather than discrete trade signals.
A key design focus is the interaction between dominant pressure and the absence of opposing pressure. Buying and selling pressure may coexist, but moments where opposing pressure fully dissipates are treated as structurally significant — a “door opening” condition where price is no longer constrained by counter-pressure and is free to expand.
Pressure is explicitly mirrored from the opposite side, creating a symmetrical framework where each side’s expansion is reflected against the other. These mirrored structures are allowed to cross, not as directional signals, but as markers of peak intensity or exhaustion within an expanding pressure phase.
Transitional regimes — where one pressure fades before the other fully emerges — are intentionally left visible rather than smoothed away. These areas often produce late confirmation or no follow-through at all, and are presented as a challenging but informative market state rather than a condition to be optimized away.
The script is intended for visual analysis and context alignment, not as a standalone entry/exit system.
Credits & Licensing
Original concept and base implementation: LuxAlgo
Modifications, restructuring, and visual system: Metaltek5
License: Creative Commons Attribution–NonCommercial–ShareAlike 4.0 (CC BY-NC-SA 4.0)
This script is published as open source under the same license as the original work.
Non-commercial use only. Attribution and share-alike required.
Annotated example illustrating dominant pressure, mirrored behavior, and door opening conditions
This version restructures the original breakout logic into a bull / bear adaptive oscillator, introduces inverted symmetry, and expands the visual system with dynamic level states and conditional color logic. The goal is to provide contextual momentum awareness rather than discrete trade signals.
A key design focus is the interaction between dominant pressure and the absence of opposing pressure. Buying and selling pressure may coexist, but moments where opposing pressure fully dissipates are treated as structurally significant — a “door opening” condition where price is no longer constrained by counter-pressure and is free to expand.
Pressure is explicitly mirrored from the opposite side, creating a symmetrical framework where each side’s expansion is reflected against the other. These mirrored structures are allowed to cross, not as directional signals, but as markers of peak intensity or exhaustion within an expanding pressure phase.
Transitional regimes — where one pressure fades before the other fully emerges — are intentionally left visible rather than smoothed away. These areas often produce late confirmation or no follow-through at all, and are presented as a challenging but informative market state rather than a condition to be optimized away.
The script is intended for visual analysis and context alignment, not as a standalone entry/exit system.
Credits & Licensing
Original concept and base implementation: LuxAlgo
Modifications, restructuring, and visual system: Metaltek5
License: Creative Commons Attribution–NonCommercial–ShareAlike 4.0 (CC BY-NC-SA 4.0)
This script is published as open source under the same license as the original work.
Non-commercial use only. Attribution and share-alike required.
Annotated example illustrating dominant pressure, mirrored behavior, and door opening conditions
オープンソーススクリプト
TradingViewの精神に則り、このスクリプトの作者はコードをオープンソースとして公開してくれました。トレーダーが内容を確認・検証できるようにという配慮です。作者に拍手を送りましょう！無料で利用できますが、コードの再公開はハウスルールに従う必要があります。
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。
オープンソーススクリプト
TradingViewの精神に則り、このスクリプトの作者はコードをオープンソースとして公開してくれました。トレーダーが内容を確認・検証できるようにという配慮です。作者に拍手を送りましょう！無料で利用できますが、コードの再公開はハウスルールに従う必要があります。
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。