My intention was to write an indicator that shows Bollinger Bands ® breakouts and the width of the bands. So there was v1. Orange line shows width.
If blue line crosses zeroline to above its a breakout to above and if red line crosses zeroline to above its a breakout to below.
I liked the signals which are generated by crossover of the two lines so I decided to make a v2 with the difference of the two lines and I added a MA.
Orange line same as in v1.
Blue line is the difference of the two lines in v1.
Crossing zeroline to below -> short, crossing to above -> long.
And red line is MA.
As I finished coding I recognized that the blue line just shows the difference between price and MA20 but as you can see it shows pretty good signals no matter if one is trading the crossing of zeroline or crossing the MA and there are usefull divergences too.
Simplified "EuroSurge" Expert Advisor (EA) for… This code represents a simplified version of "EuroSurge" Expert Advisor (EA) for MetaTrader 4 (MT4). It implements multiple technical indicators…
