OPEN-SOURCE SCRIPT
SKIP and Buy and Sell BOTS
Zaktualizowano
This script is a technical indicator designed for TradingView that combines Bollinger Bands and a UT Bot-style trailing stop system based on the Average True Range (ATR). The script generates buy and sell signals based on crossovers between the price (specifically the Exponential Moving Average) and a trailing stop line that adjusts with market volatility using the ATR.
In addition to this, the script includes a "SKIP Trade" signal that triggers whenever the price crosses above the upper Bollinger Band, indicating potential overbought conditions.
Components
Bollinger Bands
Bollinger Bands are a volatility indicator that plots an upper and lower band around a moving average (the "basis"). These bands expand or contract based on the asset's volatility.
The middle band (basis) is a Simple Moving Average (SMA) of the closing prices over a specified length. The upper and lower bands are calculated by adding and subtracting a standard deviation multiplier from the basis. This helps indicate overbought and oversold conditions, where prices are likely to revert.
The length parameter controls the number of periods for calculating the moving average, with a default of 20. The multiplier adjusts the width of the bands, with a default of 2.0 standard deviations.
The upper band is colored green, the lower band is colored red, and the middle (basis) band is colored blue.
UT Bot Alerts with ATR Trailing Stop
The UT Bot Alerts generate buy and sell signals based on a volatility-adjusted trailing stop. This helps to identify potential trends and reversals by determining when the price crosses above or below a dynamic trailing stop line that moves with market volatility.
The trailing stop is calculated using the ATR, which measures volatility over a specified number of periods. The stop line adjusts up or down depending on the current price and volatility. Buy signals are triggered when the price crosses above the trailing stop, and sell signals are triggered when the price crosses below it.
The ATR period controls the number of periods used to calculate the ATR, with a default of 10. The key value (sensitivity) multiplier determines how tight or loose the trailing stop is, with a default of 1. Higher values make the stop looser and less likely to be hit during volatility.
SKIP Trade Signal
The SKIP Trade signal is designed to highlight when the price crosses above the upper Bollinger Band, which may indicate overbought conditions or potential market exhaustion.
The script detects whenever the price crosses the upper Bollinger Band and plots a "SKIP" label below the bar, colored blue with white text. This can be a visual cue for traders to skip potential trades in overbought conditions or be cautious about entering long positions.
Buy and Sell Signals
The buy signal is plotted when the price crosses above the ATR trailing stop, suggesting a potential bullish trend. A green "Buy" label is shown below the candle.
The sell signal is plotted when the price crosses below the ATR trailing stop, suggesting a potential bearish trend. A red "Sell" label is shown above the candle.
Alerts
Alerts are set up to notify the trader when the buy or sell conditions are met, with messages like "UT Long" for buy signals and "UT Short" for sell signals.
Key Visualization Features
Bollinger Bands visually show market volatility, with the upper band being green and the lower band being red. The basis (SMA) is shown in blue.
The trailing stop line is a dynamic line that moves with the price based on market volatility, helping identify trend changes.
Buy and sell labels provide clear signals for potential entry and exit points on the chart.
The SKIP Trade signal provides a visual cue to possibly avoid entering new trades when the market may be overbought.
Purpose and Use Case
This script is designed to help traders identify potential breakout or breakdown points using the UT Bot Alerts and ATR trailing stop. It monitors market volatility with Bollinger Bands and adjusts trading decisions accordingly.
The script also provides alerts for potential trade opportunities without requiring constant monitoring of the chart. The SKIP Trade signal helps traders avoid potential overbought conditions when the price crosses the upper Bollinger Band.
Who It’s For
This script is suitable for traders looking for a combination of volatility-based trend following (using the ATR and UT Bot) and dynamic range analysis (using Bollinger Bands). It provides clear buy and sell signals, which makes it useful for both beginners and experienced traders who want to streamline their decision-making process
Informacje o Wersji
Script OverviewThis script is a technical indicator designed for TradingView that combines Bollinger Bands and a UT Bot-style trailing stop system based on the Average True Range (ATR). The script generates buy and sell signals based on crossovers between the price (specifically the Exponential Moving Average) and a trailing stop line that adjusts with market volatility using the ATR.
In addition to this, the script includes a "SKIP Trade" signal that triggers whenever the price crosses above the upper Bollinger Band, indicating potential overbought conditions.
Components
Bollinger Bands
Bollinger Bands are a volatility indicator that plots an upper and lower band around a moving average (the "basis"). These bands expand or contract based on the asset's volatility.
The middle band (basis) is a Simple Moving Average (SMA) of the closing prices over a specified length. The upper and lower bands are calculated by adding and subtracting a standard deviation multiplier from the basis. This helps indicate overbought and oversold conditions, where prices are likely to revert.
The length parameter controls the number of periods for calculating the moving average, with a default of 20. The multiplier adjusts the width of the bands, with a default of 2.0 standard deviations.
The upper band is colored green, the lower band is colored red, and the middle (basis) band is colored blue.
UT Bot Alerts with ATR Trailing Stop
The UT Bot Alerts generate buy and sell signals based on a volatility-adjusted trailing stop. This helps to identify potential trends and reversals by determining when the price crosses above or below a dynamic trailing stop line that moves with market volatility.
The trailing stop is calculated using the ATR, which measures volatility over a specified number of periods. The stop line adjusts up or down depending on the current price and volatility. Buy signals are triggered when the price crosses above the trailing stop, and sell signals are triggered when the price crosses below it.
The ATR period controls the number of periods used to calculate the ATR, with a default of 10. The key value (sensitivity) multiplier determines how tight or loose the trailing stop is, with a default of 1. Higher values make the stop looser and less likely to be hit during volatility.
SKIP Trade Signal
The SKIP Trade signal is designed to highlight when the price crosses above the upper Bollinger Band, which may indicate overbought conditions or potential market exhaustion.
The script detects whenever the price crosses the upper Bollinger Band and plots a "SKIP" label below the bar, colored blue with white text. This can be a visual cue for traders to skip potential trades in overbought conditions or be cautious about entering long positions.
Buy and Sell Signals
The buy signal is plotted when the price crosses above the ATR trailing stop, suggesting a potential bullish trend. A green "Buy" label is shown below the candle.
The sell signal is plotted when the price crosses below the ATR trailing stop, suggesting a potential bearish trend. A red "Sell" label is shown above the candle.
Alerts
Alerts are set up to notify the trader when the buy or sell conditions are met, with messages like "UT Long" for buy signals and "UT Short" for sell signals.
Key Visualization Features
Bollinger Bands visually show market volatility, with the upper band being green and the lower band being red. The basis (SMA) is shown in blue.
The trailing stop line is a dynamic line that moves with the price based on market volatility, helping identify trend changes.
Buy and sell labels provide clear signals for potential entry and exit points on the chart.
The SKIP Trade signal provides a visual cue to possibly avoid entering new trades when the market may be overbought.
Purpose and Use Case
This script is designed to help traders identify potential breakout or breakdown points using the UT Bot Alerts and ATR trailing stop. It monitors market volatility with Bollinger Bands and adjusts trading decisions accordingly.
The script also provides alerts for potential trade opportunities without requiring constant monitoring of the chart. The SKIP Trade signal helps traders avoid potential overbought conditions when the price crosses the upper Bollinger Band.
Who It’s For
This script is suitable for traders looking for a combination of volatility-based trend following (using the ATR and UT Bot) and dynamic range analysis (using Bollinger Bands). It provides clear buy and sell signals, which makes it useful for both beginners and experienced traders who want to streamline their decision-making process
Informacje o Wersji
Script Overview: This script combines Bollinger Bands with a UT Bot-style trailing stop based on the Average True Range (ATR). It generates buy and sell signals using crossovers between the price and a trailing stop line that adjusts for market volatility.A "SKIP Trade" signal is also included, which triggers when the price crosses above the upper Bollinger Band, potentially indicating overbought conditions.
Components:
• Bollinger Bands: These are volatility bands plotted around a Simple Moving Average (SMA) of the price. The upper and lower bands adjust based on volatility. The default period is 20, and the multiplier is 2.0. The upper band is green, the lower band is red, and the middle band is blue.
• UT Bot Alerts with ATR Trailing Stop: This feature generates buy and sell signals using a volatility-adjusted trailing stop based on the ATR. The ATR period is set to 10 by default, and a key value (sensitivity) of 1 adjusts how closely the stop follows price movements. Higher values make the stop looser.
• SKIP Trade Signal: This signal alerts when the price crosses above the upper Bollinger Band, indicating possible overbought conditions. A "SKIP" label appears below the bar in blue with white text.
Buy and Sell Signals: Buy signals trigger when the price crosses above the ATR trailing stop, suggesting a bullish trend. A green "Buy" label is displayed below the candle. Sell signals trigger when the price crosses below the ATR trailing stop, indicating a bearish trend. A red "Sell" label is displayed above the candle.
Alerts: The script provides alerts when the buy or sell conditions are met, with messages "UT Long" and "UT Short."
Purpose and Use Case: This script helps traders identify breakout or breakdown points using UT Bot Alerts and Bollinger Bands. It also provides alerts for trade opportunities and includes a SKIP Trade signal for overbought conditions.
Who It's For: This script is designed for traders seeking a combination of trend following using ATR and dynamic range analysis with Bollinger Bands. It’s suitable for both beginners and experienced traders who want clear buy and sell signals.
Informacje o Wersji
Script Overview: This script combines Bollinger Bands with a UT Bot-style trailing stop based on the Average True Range (ATR). It generates buy and sell signals using crossovers between the price and a trailing stop line that adjusts for market volatility.A "SKIP Trade" signal is also included, which triggers when the price crosses above the upper Bollinger Band, potentially indicating overbought conditions.
Components:
• Bollinger Bands: These are volatility bands plotted around a Simple Moving Average (SMA) of the price. The upper and lower bands adjust based on volatility. The default period is 20, and the multiplier is 2.0. The upper band is green, the lower band is red, and the middle band is blue.
• UT Bot Alerts with ATR Trailing Stop: This feature generates buy and sell signals using a volatility-adjusted trailing stop based on the ATR. The ATR period is set to 10 by default, and a key value (sensitivity) of 1 adjusts how closely the stop follows price movements. Higher values make the stop looser.
• SKIP Trade Signal: This signal alerts when the price crosses above the upper Bollinger Band, indicating possible overbought conditions. A "SKIP" label appears below the bar in blue with white text.
Buy and Sell Signals: Buy signals trigger when the price crosses above the ATR trailing stop, suggesting a bullish trend. A green "Buy" label is displayed below the candle. Sell signals trigger when the price crosses below the ATR trailing stop, indicating a bearish trend. A red "Sell" label is displayed above the candle.
Alerts: The script provides alerts when the buy or sell conditions are met, with messages "UT Long" and "UT Short."
Purpose and Use Case: This script helps traders identify breakout or breakdown points using UT Bot Alerts and Bollinger Bands. It also provides alerts for trade opportunities and includes a SKIP Trade signal for overbought conditions.
Who It's For: This script is designed for traders seeking a combination of trend following using ATR and dynamic range analysis with Bollinger Bands. It’s suitable for both beginners and experienced traders who want clear buy and sell signals.
Skrypt open-source
W prawdziwym duchu TradingView autor tego skryptu opublikował go jako open source, aby inwestorzy mogli go zrozumieć i zweryfikować. Pozdrowienia dla autora! Możesz go używać bezpłatnie, ale ponowne użycie tego kodu w publikacji podlega Zasadom Regulaminu. Możesz go oznaczyć jako ulubione, aby użyć go na wykresie.
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