OPEN-SOURCE SCRIPT
Updated Mickey's BB
Mickey's BB – Smart Reversal Detector with SL Tracking 🔁
This indicator combines the power of Bollinger Bands with engulfing candle patterns to identify high-probability reversal points.
✅ Buy Signal: Triggered when a red candle touches the lower Bollinger Band and is engulfed by a green candle within the next few candles.
✅ Sell Signal: Triggered when a green candle touches the upper Bollinger Band and is engulfed by a red candle within the next few candles.
✅ Smart Lookahead: Scans up to X candles ahead (user-defined) to confirm engulfing reversals — reducing noise in sideways markets.
✅ Dynamic Stop-Loss & Target: Automatically plots SL/TP levels based on user-defined % thresholds.
✅ SL HIT Labels: Highlights exactly when a stop-loss is breached, giving clear visual feedback on trade failures.
✅ Adaptive Market Filter: Signals are only shown when Bollinger Band width exceeds a minimum threshold — filtering out weak/noise signals in low volatility.
🔍 Ideal for reversal traders, scalpers, and those who love combining price action with volatility-based setups.
🛠️ Customizable Parameters:
🎯 Build it into your strategy, set alerts, or just use it visually to time your entries and exits with clarity.
This indicator combines the power of Bollinger Bands with engulfing candle patterns to identify high-probability reversal points.
✅ Buy Signal: Triggered when a red candle touches the lower Bollinger Band and is engulfed by a green candle within the next few candles.
✅ Sell Signal: Triggered when a green candle touches the upper Bollinger Band and is engulfed by a red candle within the next few candles.
✅ Smart Lookahead: Scans up to X candles ahead (user-defined) to confirm engulfing reversals — reducing noise in sideways markets.
✅ Dynamic Stop-Loss & Target: Automatically plots SL/TP levels based on user-defined % thresholds.
✅ SL HIT Labels: Highlights exactly when a stop-loss is breached, giving clear visual feedback on trade failures.
✅ Adaptive Market Filter: Signals are only shown when Bollinger Band width exceeds a minimum threshold — filtering out weak/noise signals in low volatility.
🔍 Ideal for reversal traders, scalpers, and those who love combining price action with volatility-based setups.
🛠️ Customizable Parameters:
- SMA Period & Std Dev Multiplier (for BB)
- SL/Target % levels
- Engulf Lookahead range
- Minimum BB width to filter signals
🎯 Build it into your strategy, set alerts, or just use it visually to time your entries and exits with clarity.
Release Notes
Refined SL signalsRelease Notes
Mickey's BB Slayer (with SL & TP)This indicator combines the strength of Bollinger Bands with engulfing candle patterns to generate smart reversal signals. It's designed to help you catch clean entries at the edge of volatility expansion.
🚀 What's New in This Version:
✅ Refined Stop Loss (SL) Logic:
The SL is now determined by either a user-defined percentage or a candle-based level from the engulfed candle body.
Whichever SL is hit first triggers the trade exit.
✅ Clear SL Prompting:
When a Stop Loss is hit, the label clearly states whether it was the Custom SL or the Candle SL, giving full transparency on trade exits.
✅ Candle-Close Confirmations:
All signals (Buy, Sell, SL Hit, Target) are confirmed only after candle close — no repainting noise.
✅ Visual Clarity:
🎯 Target and ❌ SL prompts are color-coded and positioned with intent:
SLs: white background
Targets: blue background
Arrows are flipped depending on trade direction
🔔 Built-in alerts make it easy to stay on top of trades in real time.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.