Bollinger Band and Envelope Candle-Extreme Alerts

Summary

This indicator description defines alert conditions using Bollinger Bands and price envelopes together. A buy alert is triggered when a bullish candle opens and closes below both lower bands. A sell alert requires a bearish candle to open and close above both upper bands. The indicator can send push, sound, or email alerts and draws arrows to mark signals, while leaving the band overlays themselves off the chart.

Users can configure the periods and deviations for each indicator. The document presents these conditions as an alerting tool, but does not explain an entry, exit, or position-sizing plan, nor does it provide backtest results or evidence that band extremes predict reversals. Signals alone therefore do not specify a complete trading strategy, and the description gives no guidance on how to handle persistent moves beyond the bands.

Key ideas

• A buy alert requires a bullish candle entirely below both lower bands.
• A sell alert requires a bearish candle entirely above both upper bands.
• The Bollinger and envelope periods and deviations are configurable.
• The indicator marks signals with arrows but does not display the bands or provide performance evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.