Bollinger Breakout
 $495 |
 Free! |
Description
The Bollinger Breakout Strategy works as follows:
If the MACD is above zero and the MACD is above the MACD Average, the bar on the main chart is colored green.
If the MACD is below zero and the MACD is below the MACD Average, the bar on the main chart is colored red.
In all other cases, the price is seen to be neither trending up or down and the bar on the main chart is colored white.
When the EntryType is set to "Breakout", the strategy will buy when a green (upward trending) bar crosses above the upper Bollinger Band. It will sell when a red (downward trending) bar crosses below the lower Bollinger Band.
When the EntryType is set to "Bounce", the strategy will buy when a white (non-trending) bar hits the lower Bollinger Band. It will sell when a white (non-trending) bar hits the upper Bollinger Band.
User Guide
- Installation Instructions for NT6.5
- Installation Instructions for NT7
- Getting Started
- Input Parameters
- Strategy in Action
- Manual vs. Automatic Trading
- Test Runs on Historical Data
Features
- Up to three orders per entry, each with individual profit target, stop loss, and profit trigger.
- Profit target, stop loss, and profit trigger in ticks, percent, or price.
- Fully automated trading or manual, discretionary trading via alerts.
- Set strategy to either "Breakout" or "Bounce".
- Choose "Signal Action", either Exit Position, Reverse Position, or None.
- Set "Signal Target". Strategy will not exit or reverse on signal unless your order has achieved this much profit.
- Choose between fixed stop losses or trailing stops.
- *NEW* "Profit Target Stop Loss"
Support and Resistance
The BollingerBreakout Strategy works in up or down markets. Bollinger Bands are basically dynamically determined support and resistance zones and can be used as such to determine if the price is breaking though or bouncing of off price support and resistance.