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Please help! Newbie Question on Bollinger Bands
Last Post 11-06-2007 03:43 PM by mur ang. 3 Replies.
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Jay Chiew
New Member
New Member
Posts:3

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11-06-2007 11:55 AM

    I have a script I am trying to convert from WealthLab to TradersStudio regarding Bollinger Band.

    What I did in WealthLab -

    I want to Limit Short today based on yesterday's BollingerBand (#High, Period of 10 bars ago, using 1.5)

    ShortAtLimit( Bar + 1,  ( BBandUpper( Bar, #High, 10, 1.5 ) * 1.30 ), '');

    In TradersStudio, I have:

    Sell("Sell",1, UpperBolBand(High,10,1.5,1)*1.3, Limit, day)

    However, it does not seem to work and I am wondering if I got the last argument, which is on shift, right. Any help will be useful. Thanks.

    mur ang
    Advanced Member
    Advanced Member
    Posts:525

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    11-06-2007 12:19 PM

    Please explain not working. Our limit orders are different. They require you to move 1 tick beyond the price to get filled.

    Also I am not sure with that bar shift exactly what Wealth labs is doing.

    Jay Chiew
    New Member
    New Member
    Posts:3

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    11-06-2007 02:08 PM

    The bar shift means I use today's bollinger band calculation as tomorrow's signal. I believe the last argument of TradersStudio's Bollinger band have similar meaning, but I am not sure.

    I will reword my question differently:

    How do you write a limit sell for tomorrow using Bollinger Band?

    mur ang
    Advanced Member
    Advanced Member
    Posts:525

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    11-06-2007 03:43 PM

    I think your problem is multipling by 1.3. So if upper band is at 1000, your logic enters at 1300.00, which will not happen.

     Try to enter at the band on a limit without the 1.3 or use 1.3*Average(Range,10,0) if you want to have it break though the band.

     

    Buy("BBBreak",1,Average(Close,30,0)+2*stddev(Close,30,0),limit,day)

    This is the logic without using the function this might be clearer for yu to understand.

     

     

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