Bollinger Bands Outside Candle Alert signal indicator displays the price breaking through Bollinger Bands, places signal labels, paints a signal candle and activates a signal message.

It has six input parameters:

  • BB period - Bollinger Bands calculation period

  • BB deviation - Bollinger Bands deviation value

  • BB line breakdown method

  • Opening inside, then closing outside - a signal candle is opened inside Bollinger Bands and closes outside

  • Opening and closing outside - a signal candle is opened and closed outside Bollinger Bands

  • Show bands - display Bollinger Bands (Yes/No)

  • Show signal candles (Yes/No)

  • Use alerts - display signal messages (Yes/No)

If the "Show signal candles" is set to Yes, the candle that broke through Bollinger Bands is colored:

  • Bullish candle - green
  • Bearish candle - orange