The following code looks for a close position 6 points or more below the low Bollinger line, as a secondary check it also then assesses if the current close is lower than the current day open position (US time) alongside making sure the averages 50 and 20 are positioned right for a long trade.

The stops and take profits are sized to the US Tech 100 (DFB) so I would advise caution if you decide to use this on other instruments. I’ve also experimented with different time periods and it’s safe to say that it runs best on 10 minute intervals.

As you can see from the image, the back testing has produced some very positive results and the strategy seems to be getting stronger over time as the index grows.

Naturally past results are not indictive of future results, so please use responsibly at your own risk.

//-------------------------------------------------------------------------
// Main code : Bol Bands v6
//-------------------------------------------------------------------------
// Definition of code parameters
DEFPARAM CumulateOrders = False // Cumulating positions deactivated


indicator1 = BollingerDown[20](close)
c1 = (close < (indicator1)-6) //6
c3 = average[50](close) > average[20](close)
c5 = (close < dopen(0))


IF c1 and c3 and c5 THEN
BUY 1 PERPOINT AT MARKET
ENDIF

// Conditions to exit long positions
indicator2 = BollingerUp[20](close)
c2 = (close > (indicator2)+17) //16

indicator2 = AccumDistr(close)
c4 = (indicator2 < indicator2[435]) //435

IF c2 and c4 THEN
SELL AT MARKET
ENDIF

set stop ptrailing 475
set target profit 300

us-tech-1617726478pcl48.png us-tech-1617726478pcl481.png