Bollinger Basis Crosses Confirmed by Awesome Oscillator Direction

Summary

This strategy combines a fast exponential moving average crossing a Bollinger basis with the direction of the Awesome Oscillator. A bullish setup requires the fast average to cross above the basis, the close to be above it, and the oscillator to be rising while nonnegative. The bearish condition mirrors this with a downward cross, price below the basis, and a falling negative oscillator. Long entries are limited by a configurable date range, while bearish signals close the long position. The script also plots the bands, averages, signal markers, and oscillator-based bar colors.

The source includes adjustable band length, multiplier, averaging method, oscillator periods, and test dates, and mentions use on several short chart intervals. It does not include measured backtest results, transaction costs, or a short-entry rule. RSI inputs are calculated but do not affect the orders, and the bearish signal only exits a long. Thus the description is insufficient to establish robustness or profitability, and the strategy’s behavior should be checked across instruments and market conditions.

Key ideas

• A fast EMA crossing the Bollinger basis supplies the trigger, with price location confirming direction.
• The Awesome Oscillator’s sign and slope filter bullish and bearish crosses.
• The strategy opens longs on qualifying upward signals and closes them on qualifying downward signals.
• Although RSI values are computed, they are not used in the entry or exit logic.

Tags

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