Lwma 5 channel crossover Bollinger band indicator with alert.

[thosyno]

Hello all, I need help in creating an indicator with alert using this criteria : Bollinger Bands default settings and moving average channel using :Lwma 5 high and Lwma 5 low. Buy alert whenever the Lwma 5 channel crosses the mid Bollinger band to the upper Bollinger band and Sell alert whenever the Lwma 5 channel crosses the mid Bollinger band to the lower Bollinger band.
Thanks alot.

 

[hayseed]

Bollinger Bands default settings and moving average channel using :Lwma 5 high and Lwma 5 low. Buy alert whenever the Lwma 5 channel crosses the mid Bollinger band to the upper Bollinger band and Sell alert whenever the Lwma 5 channel crosses the mid Bollinger band to the lower Bollinger band.

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hey thosyno..... the mid bollinger line is just a 20 sma.....

so if you had a channel such as described above, what exactly does the Lwma 5 channel crosses the mid Bollinger band to the lower Bollinger band , mean.... are you saying only that the 5 lwma based on the low must cross the 20, or does the entire Lwma 5 channel have to cross......

in the chart below, the 5 lwma high crossed the 20 sma, or center line of bollinger bands, on 1/28/21, but the entire channel did not cross until 2/4/21.... shown as the 2 yellow lines.....

another thing to keep in mind, it's possible for the 5 lwma low to cross below the 20 sma while both are going up..... shown as the vertical red line.....

and equally possible for the 5 lwma high to cross above the 20 sma while both are going down.....h
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[thosyno]

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hey thosyno..... the mid bollinger line is just a 20 sma.....

so if you had a channel such as described above, what exactly does the Lwma 5 channel crosses the mid Bollinger band to the lower Bollinger band , mean.... are you saying only that the 5 lwma based on the low must cross the 20, or does the entire Lwma 5 channel have to cross......

in the chart below, the 5 lwma high crossed the 20 sma, or center line of bollinger bands, on 1/28/21, but the entire channel did not cross until 2/4/21.... shown as the 2 yellow lines.....

another thing to keep in mind, it's possible for the 5 lwma low to cross below the 20 sma while both are going up..... shown as the vertical red line.....

and equally possible for the 5 lwma high to cross above the 20 sma while both are going down.....h
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Thank you, Hayseed.
I know the mid bb line is sma 20. I use the upper and lower bb lines mostly to set my stop loss. And sometimes the squeeze of the Bollinger band suggest a breakout is coming. Also there are certain ways the candles align to the upper/lower band that gives an inkling whether market is trending or when the candles are just moving in between to suggest a range.

I trade mostly the 5min tf but I also look at the 1min and 15 min tf. So to me , the Lwma 5 channel crosses the mid Bollinger band to the lower Bollinger band means I will not consider selling if only the 5 Lwma based on the low crosses the 20. I only consider selling when the 5 lwma based on the high also cross the 20, hence my saying 5 Lwma channel crossing the mid bb line. Same for buying. I only consider a buy when the 5 Lwma based on the low crosses the 20.

I am a newbie. But I just want something simple and profitable in this crazy world of forex. And I will really appreciate pointers. Thanks alot

 

[hayseed]

means I will not consider selling if only the 5 Lwma based on the low crosses the 20.

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hey thosyno..... ok.... that clears it up..... when coding we can't take anything for granted, hence my questions.....

so now we can reduce it down to a buy is when the lwma(5) low crosses above the 20 and a sell when the lwma(5) high crosses below.....

take a look at the indicator below..... it should plot a green line on the bar following a full channel cross up and a red line following a full channel cross down.....

just to verify it matches your signals..... alerts and options can be added later.....h
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[thosyno]

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hey thosyno..... ok.... that clears it up..... when coding we can't take anything for granted, hence my questions.....

so now we can reduce it down to a buy is when the lwma(5) low crosses above the 20 and a sell when the lwma(5) high crosses below.....

take a look at the indicator below..... it should plot a green line on the bar following a full channel cross up and a red line following a full channel cross down.....

just to verify it matches your signals..... alerts and options can be added later.....h
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Thanks so much for this, I really appreciate . I installed on my mt4 attached is how it looks. the moving average lines are not showing. Maybe I did something wrong.

Thanks once again.

 

[hayseed]

the moving average lines are not showing. Maybe I did something wrong.

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hey thosyno..... you did it right..... the river indicator is something separate just so you could see the crosses.....

if you put both the lwma's and bollinger bands the lines should be at the crosses....h
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[hayseed]

Buy alert and Sell alert

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added the alerts..... should alert once on each signal..... if for any reason the signal becomes invalid, the alerts will reset....

the euraud monthly has a sell alert now.....

indicators are primarily based on the bid...... so be wary of spreads when using the 1 minute charts...... also on 1 minute charts, it is quite common for low period moving average, even if one is based on the high and other based on the low, to be equal during slow markets.....

just think about the math to understand why.....h
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[hayseed]

guess uploading the indicator might help.....h
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[thosyno]

guess uploading the indicator might help.....h
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So much thanks. I understand about adding the Lwma and bb. Will upload and try it out with the alerts. Thanks again