The strategy uses the indicator. In the chart, the is displayed in black lines. Offset 1 candle to the right for clarity. The red line is the middle of the .
You must use market stop orders.
If the price is higher than the top black line, open the long position (and close the short position)
If the price is lower than the lower black line, open the short position (and close the long position)
If the price has returned to the middle of the (red line) - it is necessary to close any position.
You can disable the stop-loss orders. It will be a reverse-trading system.
- BTC /USD, XBT/USD, ETH/USD, etc (Do not use ANY/ BTC symbols!)
- Timeframes: 1h, 4h, 1d
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.