Big Candle Touches Bollinger Band

21. Aug.

What It Does:

This indicator helps you spot important trading signals by combining Bollinger Bands with big candles.

Key Features:

Bollinger Bands: These bands show the average price (middle band) and the range of price movement (upper and lower bands) over a set period. The bands widen when prices are more volatile and narrow when they are less volatile.

Big Candle Detection: A "big candle" is a candle that has a larger body compared to the average price movement over a period. This is determined using the Average True Range (ATR), which measures market volatility.

How It Works:

Detects Big Candles: It checks if a candle’s body (the difference between its open and close prices) is bigger than usual, based on a multiplier of the ATR.

Touching Bollinger Bands: It looks for candles that touch or cross the upper or lower Bollinger Bands.

Highlights Important Signals:

Sell Signal: When a big candle touches the upper Bollinger Band, it marks it as a "Sell" signal with a red label.
Buy Signal: When a big candle touches the lower Bollinger Band, it marks it as a "Buy" signal with a green label.
Alerts:

You'll get alerts when a big candle touches the upper or lower Bollinger Bands, so you don’t miss these potential trading opportunities.
Visuals:

Bollinger Bands: Shown as three lines on the chart — the upper band (red), the lower band (green), and the middle band (blue).
Labels: Red labels for sell signals and green labels for buy signals when a big candle touches the bands.
This indicator helps you identify potential trading opportunities by focusing on significant price movements and how they interact with the Bollinger Bands.