Analysis Techniques & Strategies
|BollingerPrice||Numeric||Close||A bar price or other value used to calculate the center-line average.|
|TestPriceLBand||Numeric||Close||Triggers placement of stop order at LowerBand when this price crosses over LowerBand.|
|Length||Numeric||20||Number of bars used to calculate the Bollinger band.|
|NumDevsUp||Numeric||2||Number of Standard Deviations for the Bollinger Band calculation (enter a positive number; the strategy will calculate the lower band).|
Long entry based on the low price crossing above the lower Bollinger Band.
Bollinger Bands are generally placed two standard deviations above and below the market. Prices within the standard deviations are said to be 'normal' prices. Whenever the price moves below the lower band, this strategy generates a buy stop order for the next bar when the low price of the current bar has crossed back above the lower band. The stop value is the level of the lower Bollinger band.
You can change the number of bars and standard deviation used to calculate the Bollinger band.
Order Name: BBandLE
Related Strategy: Bollinger Bands SE
Related Function(s): BollingerBand