Bollinger Band Pinbar Indicator

• 01/08/2023 at 11:36 AM #207031
  Jdh320

  Hello PRT Coders, Happy New Year. I hope you all enjoyed the festive break. Does anyone know if it is possible to code an indicator that draws an arrow above/below a sell/buy condition. The condition would be if price opens inside the bollinger band breaks outside of it and returns to close back in the band forming a pinbar?

  Please see attached photo (as I am sure I havn’t explained it well!!)

  Regards

   

  Joe

  

  Jdh320

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  01/08/2023 at 11:58 AM #207032
  JS

  Hé Joe, no attached photo…

  

  JS

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  01/08/2023 at 12:01 PM #207033
  Jdh320

  Apologies here is the chart image.

   

  https://www.tradingview.com/x/RpzCXH2T/

  

  Jdh320

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  01/08/2023 at 12:01 PM #207034
  Jdh320

  Apologies, here is the link to the chart image.

   

  https://www.tradingview.com/x/RpzCXH2T/

  

  Jdh320

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  01/08/2023 at 12:14 PM #207035
  JS

  Hi Joe,

  That is possible…

  Probably a bullish pinbar (BBUp) and a bearish pinbar (BBDown)…

  

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  01/08/2023 at 12:18 PM #207041
  Jdh320

  Thanks. Do you know anyone who would be able to code it as I have zero coding skill 😂😂

  Joe

  

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  01/08/2023 at 12:22 PM #207045
  JS

  I will code it for you… 😉

  

  JS

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  01/08/2023 at 12:23 PM #207046
  Jdh320

  Oh nice one, thanks so much!

  

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  01/08/2023 at 12:32 PM #207047
  JS

  Hi Joe,

  Here is the indicator…

   

   

  BB PinBars

  If Open<BollingerUp[20](close) and High>BollingerUp[20](Close) and Close<BollingerUp[20](Close) and Close>Open then //Bullish PinBar DrawArrowDown(BarIndex,High+20*pipsize) coloured("Red") EndIf If Open>BollingerDown[20](close) and Low<BollingerDown[20](Close) and Close>BollingerDown[20](Close) and Close<Open then //Bearish PinBar DrawArrowUp(BarIndex,Low-20*pipsize) Coloured("Green") EndIf Return

  1 2 3 4 5 6 7 8

  If Open<BollingerUp[20](close) and High>BollingerUp[20](Close) and Close<BollingerUp[20](Close) and Close>Open then //Bullish PinBar DrawArrowDown(BarIndex,High+20*pipsize) coloured("Red") EndIf   If Open>BollingerDown[20](close) and Low<BollingerDown[20](Close) and Close>BollingerDown[20](Close) and Close<Open then //Bearish PinBar DrawArrowUp(BarIndex,Low-20*pipsize) Coloured("Green") EndIf Return

  

  JS

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  01/08/2023 at 12:35 PM #207049
  Jdh320

  Thanks JS.

  That’s great.

  ATB

  Joe

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  JS

  

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  01/08/2023 at 12:43 PM #207050
  Jdh320

  Hi JS

  I have had a little look and I think the code is almost right, I have attached a screenshot and annotated arrows where I would have expected them.

  so the candle opens inside the BB breaks outside and closes back inside. It can be both a bullish or a bearish pinbar in each scenario with a body height of I guess about 15% or less of the candle high minus low.

   

  

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  01/08/2023 at 3:40 PM #207058
  JS

  Hi @jdh320,

  Hereby the adjusted indicator with both bullish and bearish pinbar breakthroughs…

  You can set the percentage of the body yourself (now stands at 30%) …

   

  BB PinBars v2

  If Open<BollingerUp[20](close) and High>BollingerUp[20](Close) and Close<BollingerUp[20](Close) and abs(Close-Open)<=0.30*(High-Low) then //Bullish PinBar DrawArrowDown(BarIndex,High+20*pipsize) coloured("Red") EndIf If Open>BollingerDown[20](close) and Low<BollingerDown[20](Close) and Close>BollingerDown[20](Close) and abs(Close-Open)<=0.30*(High-Low) then //Bearish PinBar DrawArrowUp(BarIndex,Low-20*pipsize) Coloured("Green") EndIf Return

  1 2 3 4 5 6 7 8

  If Open<BollingerUp[20](close) and High>BollingerUp[20](Close) and Close<BollingerUp[20](Close) and abs(Close-Open)<=0.30*(High-Low) then //Bullish PinBar DrawArrowDown(BarIndex,High+20*pipsize) coloured("Red") EndIf   If Open>BollingerDown[20](close) and Low<BollingerDown[20](Close) and Close>BollingerDown[20](Close) and abs(Close-Open)<=0.30*(High-Low) then //Bearish PinBar DrawArrowUp(BarIndex,Low-20*pipsize) Coloured("Green") EndIf Return

  

  JS

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  01/08/2023 at 4:43 PM #207066
  robertogozzi

  @Jdh320

  Please do not embed pictures and files in your post, as it slows down the loading of pages. To attach them use the “Select File” button, instead.

  Thank you 🙂

   

  

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  01/08/2023 at 5:14 PM #207079
  Jdh320

  Thanks so much, thats perfect.

  Regards

  Joe

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  JS

  

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  01/08/2023 at 5:14 PM #207081
  Jdh320

  apologies @robertogozzi

  regards

  joe

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  robertogozzi

  

  Jdh320

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