This script is used to calculate angle of Bollinger Bands and also setup alerts.
The angle is based on the rules:
- if the previous 2 is 1.1, previous 1 is 1, and the current is 1.1, then the angle should be 90 degrees. - if the previous 2 is 0.9, previous 1 is 1, and the current is 0.9, then the angle should be 270 degrees
If upper angle is below 90 degrees and close is above the average, it is long signal. If lower angle is above 270 degrees and close is below the average, it is short signal.
- It is good for catch trend trading. - Not good for swing trading as the BB changes are very tiny but angles for upper may hit below 90 degrees or angle of lower may be above 270 degrees.
looks good... this method of calculating angles does not change/is not affected by zooming in/out of the chart ? What do you mean by 1 change 2 -- which value are you observing for change?
rollenderriese
⋅
very interesting concept ! thanks for sharing ! what Timeframe do you recommend ?
Jesse.Lau
⋅
@rollenderriese, depends on your stoploss level. I always use otherside upper/lower as stoploss. I am using 1-5 min chart