using bollybands as a stop loss

• 12/22/2022 at 3:06 PM #206201
  LivJoJade

  is it possible to use a different deviation BB as a stop loss instrument. Say I want to enter short above the upper band of a standard BB with a target of crossing the middle line (average) and implimenting a close above a +3 deviation BB for a stop loss.

  Hope that makes sense.

  

  LivJoJade

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  12/22/2022 at 4:23 PM #206204
  JS

  Hi@LivJoJade

  That’s possible…

  BB Stop Loss

  DefParam CumulateOrders=False n=20 //20 Days xAvg=Average[n](Close) xStd=Std[n](Close) xBB2Up=xAvg+2*xStd xBB3Up=xAvg+3*xStd xBB2Down=xAvg-2*xStd xBB3Down=xAvg-3*xStd If Close Crosses Over xBB2Up then SellShort 1 contract at Market Set Target pProfit (xBB2Up-xAvg) Set Stop pLoss(xBB3Up-xBB2Up) EndIf If Close Crosses Under xBB2Down then Buy 1 contract at Market Set Target pProfit (xBB2Down-xAvg) Set Stop pLoss(xBB3Down-xBB2Down) EndIf

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23

  DefParam CumulateOrders=False   n=20 //20 Days   xAvg=Average[n](Close) xStd=Std[n](Close)   xBB2Up=xAvg+2*xStd xBB3Up=xAvg+3*xStd xBB2Down=xAvg-2*xStd xBB3Down=xAvg-3*xStd   If Close Crosses Over xBB2Up then SellShort 1 contract at Market Set Target pProfit (xBB2Up-xAvg) Set Stop pLoss(xBB3Up-xBB2Up) EndIf   If Close Crosses Under xBB2Down then Buy 1 contract at Market Set Target pProfit (xBB2Down-xAvg) Set Stop pLoss(xBB3Down-xBB2Down) EndIf

  

  JS

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  12/22/2022 at 5:56 PM #206207
  JS

  Hi@Livjojade

  To avoid negative values, you must take the absolute values for the Stop Loss and the Take Profit…  (or immediately fill in the right values… 😉 )

  BB Stop Loss

  DefParam CumulateOrders=False //n=20 //20 Days xAvg=Average[n](Close) xStd=Std[n](Close) xBB2Up=xAvg+2*xStd xBB3Up=xAvg+3*xStd xBB2Down=xAvg-2*xStd xBB3Down=xAvg-3*xStd If Close Crosses Over xBB2Up then SellShort 1 contract at Market Set Target pProfit abs(xBB2Up-xAvg) Set Stop pLoss abs(xBB3Up-xBB2Up) EndIf If Close Crosses Under xBB2Down then Buy 1 contract at Market Set Target pProfit abs(xBB2Down-xAvg) Set Stop pLoss abs(xBB3Down-xBB2Down) EndIf

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23

  DefParam CumulateOrders=False   //n=20 //20 Days   xAvg=Average[n](Close) xStd=Std[n](Close)   xBB2Up=xAvg+2*xStd xBB3Up=xAvg+3*xStd xBB2Down=xAvg-2*xStd xBB3Down=xAvg-3*xStd   If Close Crosses Over xBB2Up then SellShort 1 contract at Market Set Target pProfit abs(xBB2Up-xAvg) Set Stop pLoss abs(xBB3Up-xBB2Up) EndIf   If Close Crosses Under xBB2Down then Buy 1 contract at Market Set Target pProfit abs(xBB2Down-xAvg) Set Stop pLoss abs(xBB3Down-xBB2Down) EndIf

  

  JS

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