El Doble Double Bollinger [Artillery] — Strategy by ArtilleryTrades
By ArtilleryTrades
Performance Metrics
- Author: ArtilleryTrades
- Symbol: CME_MINI:MNQ1!
- Timeframe: 5 minutes
- Win Rate: 37.6%
- Profit Factor: 0.899
Description
El Doble is a double Bollinger Band mean-reversion strategy: a slow band defines the stretch, a fast band confirms the snap-back, and an EMA/ADX filter keeps entries aligned with the broader drift. This is a canonical republication of the earlier "El Doble v3.0" script with the version suffix dropped; the trading logic is unchanged.CONCEPT AND CREDITThe two-Bollinger approach - a standard 20-period band for the outer stretch plus a very fast band for timing the reversal - is the method popularised by the trader Straight Kim. That is a concept credit: all code in this script is original and uses only Pine built-ins (SMA, standard deviation, EMA, DMI).WHAT IT DOES1) Stretch - a touch of the slow Bollinger Band (20 SMA +/- 2 standard deviations by default) marks price as extended. The touch stays valid for a limited number of bars.2) Snap-back trigger - within that window, the entry bar must close back through the fast band's basis (4-period by default) in the reversion direction: a bullish close above the fast basis after a lower-band touch, or the mirror for shorts. A cooldown prevents entering on the touch bar itself.3) Trend alignment - longs require price above the 55 EMA or a rising EMA slope; shorts the mirror. An ADX floor skips dead, driftless tape where mean reversion has nothing to revert.4) Exits - fixed point-based stop and target (15 / 25 points by default, scaled for MNQ) plus a time stop that closes stale positions after a set number of bars.5) Guard rails - a trades-per-day cap, one position at a time, and a session window (2:00-9:00 ET by default, covering the late Globex / European hours where this mean-reversion behaviour was designed to be studied).WHAT YOU SEE ON THE CHART- The slow band (grey) with its midline, the fast band (dotted green/red circles), and the shaded zones between fast and slow bands where setups arm- The 55 EMA coloured by slope direction- Triangle markers at long and short entries, plus the strategy's own trade markersBACKTEST PROPERTIES (documented so you can judge the report)The report uses realistic single micro-contract properties: 50,000 initial capital, fixed 1 contract, 0.62 commission per contract per side, 1 tick of slippage. The default window on MNQ 5-minute bars produces well over 100 trades, so the sample is meaningful for behavioural analysis - but backtest results remain historical, vary with the tested window, and do not predict future performance. The point-based stop, target and the session hours were chosen for MNQ and must be rescaled for other symbols and timeframes.BEHAVIOUR NOTESAll conditions evaluate on closed bars: no intrabar order generation, no higher-timeframe requests, no lookahead. Bands and EMA are standard rolling calculations and do not repaint. Entries are processed on the bar after the signal. Strategies in Pine v6 alert through order-fill events.This is an educational and analytical tool for studying band-based mean reversion. It is not financial advice.