Tool to take profit if Bid price touches Bollinger Band

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fxbell
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Posts: 27
Joined: Sat Aug 10, 2013 12:37 pm

Tool to take profit if Bid price touches Bollinger Band

Post by fxbell »

Hello,

I have been searching around, but not successful. Therefore, if anyone has an idea or can direct me to the right place, if would be very appreciated.

I place my entry pending order manually and close the trade if Bid price "touches" Bollinger Band if moved to the favorable direction or close if a defined number of candles "close" beyond unfavorable BB,

If I want Empty4 to recognize open trade and only manage close, is already any tool that can manage?
Else if there is any similar function tool that can handle above, with some tweak, please let me know.
I am a learning coder but will try my best to modify.

Thank you for reading!

Best regard,
fxbell
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tomele
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Tool to take profit if Bid price touches Bollinger Band

Post by tomele »

You can set up something similar using Desky, TDesk and UBD.

You need two "veto and exit signals" for TDesk: One that is LONG if price (or possibly a short MA) is greater than upper BB buffer, and SHORT when less than lower BB buffer. The second must be inverse (SHORT when above upper and LONG when below lower band). This way you always have a LONG exit signal and a SHORT exit signal outside the band. No matter what direction your trades have, they get closed if price moves out of the band.

Configure Desky to manage all trades and to react to TDesks exit signals.

It is a symmetrical solution, i.e. reacts identical on both sides of the band. You could go even further and make it asymmetrical by using four UBDs. Give it your own thoughts.

Thomas
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fxbell
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Posts: 27
Joined: Sat Aug 10, 2013 12:37 pm

Tool to take profit if Bid price touches Bollinger Band

Post by fxbell »

Hi Tomele,

Thank you very much for your response. Because I knew nothing about TDesk, initially, I had no idea what you were referring to even after reading your message 10 times. But I am now marginally starting to get the idea.

I have visited beginner sections for TDesk and Desky. Starting to understand....Even I am placing entry manually if I set up Desky with modification of close condition as you have mentioned, It should work as expected.

Having looked at all the setting for TDesk, if I could manage to modify correctly, it would be a super helpful tool. So surprised to see all the descriptions that are written in the code is so helpful.

Thank you again for your message and tool. (Well, still a lot to digest!)

fxbell
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