Outside the Bollinger Bands Alerting Indicator

9월 16일

Overview

The Outside the Bollinger Bands Alerting Indicator is a comprehensive technical analysis tool that combines multiple proven
indicators into a single, powerful system designed to identify high-probability reversal patterns at Bollinger Band extremes. This
indicator goes beyond simple band touches to detect sophisticated pattern formations that often signal strong directional moves.

Key Features & Capabilities
🎯 Advanced Pattern Recognition

Bollinger Band Breakout Patterns
- Detects "pierce-and-reject" formations where price breaks through a Bollinger Band but immediately reverses back inside
- Identifies failed breakouts that often lead to strong moves in the opposite direction
- Combines multiple confirmation signals: engulfing candle patterns, MACD momentum, and ATR volatility filters
- Visual alerts with symbols positioned below (bullish) or above (bearish) candles

Tweezer Top & Bottom Patterns
- Identifies consecutive candles with nearly identical highs (tweezer tops) or lows (tweezer bottoms)
- Requires at least one candle to breach the respective Bollinger Band
- Confirms reversal with directional close requirements
- Customizable tolerance settings for pattern sensitivity
- Visual alerts with ❙❙ symbols for easy identification

📊 Multi-Indicator Integration

Bollinger Bands Indicator
- Dual-band configuration with outer (2.0 std dev) and inner (1.5 std dev) bands that can be adjusted to suit your own parameters
- Configurable MA types: SMA, EMA, SMMA (RMA), WMA, VWMA
- Customizable length, source, and offset parameters
- Color-coded band fills for visual clarity

Moving Average Suite
- EMA 9, 21, 50, and 200 (individually toggleable)
- Special "SMA 3 High" for help visualizing and detecting Bollinger Band break-outs
- Dynamic color coding based on price relationship

Optional Ichimoku Cloud overlay
- Complete Ichimoku implementation with customizable periods
- Dynamic cloud coloring based on trend direction
- Toggleable overlay that doesn't interfere with other indicators

🚨 Comprehensive Alert System

Real-Time JSON Alerts
- Sends structured data on every confirmed bar close
- Includes all indicator values: BB levels, EMAs, MACD, RSI
- Contains signal states and crossover conditions
- Perfect for automated trading systems and webhooks

{"timestamp":1753118700000,"symbol":"ETHUSD","timeframe":"5","price":3773.3,"bollinger_bands":{"upper":3826.95,"basis":3788.32,"lower":3749.68},"emas":{"ema_9":3780.45,"ema_21":3788.92,"ema_50":3800.79,"ema_200":3787.74,"sma_3_high":3789.45},"macd":{"macd":-10.1932,"signal":-11.3266,"histogram":1.1334},"rsi":{"rsi":40.5,"rsi_ma":39.32,"level":"neutral"}}

Specific Alert Conditions
- MACD histogram state changes (rising to falling, falling to rising)
- RSI overbought/oversold crossovers
- All pattern detections (BB Bounce, Tweezer patterns)
- Bollinger Band breakout alerts

🎨 Visual Elements

Pattern Identification
- ♻ symbols for Bollinger Band breakout patterns (green for bullish, red for bearish)
- ❙❙ symbols for tweezer patterns (green below for bottoms, red above for tops)
- Color-coded band fills for trend visualization

Chart Overlay Options
- All moving averages with distinct colors
- Bollinger Bands with inner and outer boundaries
- Optional Ichimoku cloud with trend-based coloring

Trading Applications

Reversal Trading

- Identify high-probability reversal points at extreme price levels
- Use failed breakout patterns for entry signals
- Combine multiple timeframes for enhanced accuracy

Trend Analysis

- Monitor moving average relationships for trend direction
- Use Ichimoku cloud for trend strength assessment
- Track momentum with MACD and RSI integration

Risk Management

- ATR-based volatility filtering reduces false signals
- Multiple confirmation requirements improve signal quality
- Real-time alerts enable prompt decision making


Suggested Use

- Use on multiple timeframes for confluence
- Combine with support/resistance levels for enhanced accuracy
- Set up alerts for hands-free monitoring
- Customize settings based on market volatility and trading style
- Consider volume confirmation for stronger signals

9월 16일

릴리즈 노트

Overview

The Outside the Bollinger Bands Alerting Indicator is intended to alert users to Bollinger Band break-outs. Several custom alerts have been added for convenience, plus a comprehensive JSON message that captures a variety of data (useful for webhooks).

Bollinger Band Breakout Patterns
- Detects "pierce-and-reject" formations where price breaks through a Bollinger Band but immediately reverses back inside
- Identifies failed breakouts that often lead to strong moves in the opposite direction
- Combines multiple confirmation signals: engulfing candle patterns, MACD momentum, and ATR volatility filters
- Visual alerts with symbols positioned below (bullish) or above (bearish) candles

Tweezer Top & Bottom Patterns
- Identifies consecutive candles with nearly identical highs (tweezer tops) or lows (tweezer bottoms)
- Requires at least one candle to breach the respective Bollinger Band
- Confirms reversal with directional close requirements
- Customizable tolerance settings for pattern sensitivity
- Visual alerts with ❙❙ symbols for easy identification

📊 Multi-Indicator Integration

Bollinger Bands Indicator
- Dual-band configuration with outer (2.0 std dev) and inner (1.5 std dev) bands that can be adjusted to suit your own parameters
- Configurable MA types: SMA, EMA, SMMA (RMA), WMA, VWMA
- Customizable length, source, and offset parameters
- Color-coded band fills for visual clarity

Moving Average Suite
- EMA 9, 21, 50, and 200 (individually toggleable)
- Special "SMA 3 High" for help visualizing and detecting Bollinger Band break-outs
- Dynamic color coding based on price relationship

Optional Ichimoku Cloud overlay
- Complete Ichimoku implementation with customizable periods
- Dynamic cloud coloring based on trend direction
- Toggleable overlay that doesn't interfere with other indicators

🚨 Comprehensive Alert System

Real-Time JSON Alerts
- Sends structured data on every confirmed bar close
- Includes all indicator values: BB levels, EMAs, MACD, RSI
- Contains signal states and crossover conditions
- Perfect for automated trading systems and webhooks

Example Output:
{
"timestamp":1753118700000,
"symbol":"ETHUSD",
"timeframe":"5",
"price":3773.3,
"bollinger_bands":{"upper":3826.95,"basis":3788.32,"lower":3749.68},
"emas":{"ema_9":3780.45,"ema_21":3788.92,"ema_50":3800.79,"ema_200":3787.74,"sma_3_high":3789.45},
"macd":{"macd":-10.1932,"signal":-11.3266,"histogram":1.1334},
"rsi":{"rsi":40.5,"rsi_ma":39.32,"level":"neutral"}
}


Specific Alert Conditions
- MACD histogram state changes (rising to falling, falling to rising)
- RSI overbought/oversold crossovers
- All pattern detections (BB Bounce, Tweezer patterns)
- Bollinger Band breakout alerts

🎨 Visual Elements

Pattern Identification
- ♻ symbols for Bollinger Band breakout patterns (green for bullish, red for bearish)
- ❙❙ symbols for tweezer patterns (green below for bottoms, red above for tops)
- Color-coded band fills for trend visualization

Chart Overlay Options
- All moving averages with distinct colors
- Bollinger Bands with inner and outer boundaries
- Optional Ichimoku cloud with trend-based coloring

Trading Applications

Reversal Trading

- Identify high-probability reversal points at extreme price levels
- Use failed breakout patterns for entry signals
- Combine multiple timeframes for enhanced accuracy

Trend Analysis

- Monitor moving average relationships for trend direction
- Use Ichimoku cloud for trend strength assessment
- Track momentum with MACD and RSI integration

Risk Management

- ATR-based volatility filtering reduces false signals
- Multiple confirmation requirements improve signal quality
- Real-time alerts enable prompt decision making


Suggested Use

- Use on multiple timeframes for confluence
- Combine with support/resistance levels for enhanced accuracy
- Set up alerts for hands-free monitoring
- Customize settings based on market volatility and trading style
- Consider volume confirmation for stronger signals

9월 22일

릴리즈 노트

• Removed unnecessary MACD, EMA, and RSI indicators, as these were not helpful.
  
• Added tooltips to help explain the input settings and language.
  
• Renamed some parameters to be more easily understandable.
  
• Used consistent language to describe "Upper" and "Lower" Bollinger Bands.
  

For example, the script identifies two types of pattern where the price breaks out or the Bollinger Bands, and then returns:

♻ - Breakouts ( Upper and Lower)
❙❙ - Tweezer Pattern (Upper and Lower)

The Ichimoku Cloud feature is still available, but turned off by default. This indicator is included because it may help users qualify the value of a Bollinger Band breakout relative to the cloud. We recommend using Bollinger Bands alongside additional indicators for confirmation and consensus of a signal.

The alerting feature has been updated to be more clear. These are the new alerts:


Lower Band Breakout
message = 'Breakout pattern detected at Lower Bollinger Band'

Tweezer through Lower Band
message = 'Tweezer Bottom pattern through Lower Bollinger Band

Upper Band Breakout
message = 'Breakout pattern detected at Upper Bollinger Band'

Tweezer through Upper Band
message = 'Tweezer Top pattern detected through Upper Bollinger Band

Any Lower Band Breach
message = "Price Breach of the Lower Bollinger Bands"

Any Upper Band Breach
message = "Price Breach of the Upper Bollinger Bands"