Editors' picksOPEN-SOURCE SCRIPT
Fancy Bollinger Bands [BigBitsIO]
Updated
This script is for a Bollinger Band type indicator with as many features as I can possibly fit into a Bollinger Band type indicator.
Features:
- A single custom moving average serving as the middle band.
- Standard MA inputs.
- MA type.
- MA period.
- MA price.
- MA resolution (time frame).
- Visibility toggle.
- MA Candle Type
- Fancy MA inputs.
- Toggle to show only candles included in the MA calculation ("Highlight inclusion") or display entire MA history.
- Toggle to show a ghost trail when Highlight inclusion is toggled on. Displays a shaded version of past MA history before the inclusion period (as seen on snapshot).
- Toggle to show forecast values for the MA.
- Other inputs related to forecasting:
- Forecast bias. (Neutral forecasts MA if the current price remains the same.)
- Forecast period.
- Forecast magnitude.
- Toggle showing details on the screen
- Toggle the visibility of the fill between the upper and lower bands.
- Toggle to use ATR instead of the standard deviation to calculate the location of the upper and lower bands.
- Custom input for the ATR period.
A couple of quick notes. The label will only show up if toggled on, and will always show above the highest of either the candle high or upper band. The fill colors are based on the level of %B currently on the indicator. Higher levels are green, and brighter green, while lower levels are red and brighter red. The fill is lighter in shadow areas to reflect their status as not being included in the middle band calculation.
*** DISCLAIMER: For educational and entertainment purposes only. Nothing in this content should be interpreted as financial advice or a recommendation to buy or sell any sort of security or investment including all types of crypto. DYOR, TYOB. ***
Features:
- A single custom moving average serving as the middle band.
- Standard MA inputs.
- MA type.
- MA period.
- MA price.
- MA resolution (time frame).
- Visibility toggle.
- MA Candle Type
- Fancy MA inputs.
- Toggle to show only candles included in the MA calculation ("Highlight inclusion") or display entire MA history.
- Toggle to show a ghost trail when Highlight inclusion is toggled on. Displays a shaded version of past MA history before the inclusion period (as seen on snapshot).
- Toggle to show forecast values for the MA.
- Other inputs related to forecasting:
- Forecast bias. (Neutral forecasts MA if the current price remains the same.)
- Forecast period.
- Forecast magnitude.
- Toggle showing details on the screen
- Toggle the visibility of the fill between the upper and lower bands.
- Toggle to use ATR instead of the standard deviation to calculate the location of the upper and lower bands.
- Custom input for the ATR period.
A couple of quick notes. The label will only show up if toggled on, and will always show above the highest of either the candle high or upper band. The fill colors are based on the level of %B currently on the indicator. Higher levels are green, and brighter green, while lower levels are red and brighter red. The fill is lighter in shadow areas to reflect their status as not being included in the middle band calculation.
*** DISCLAIMER: For educational and entertainment purposes only. Nothing in this content should be interpreted as financial advice or a recommendation to buy or sell any sort of security or investment including all types of crypto. DYOR, TYOB. ***
Release Notes
Update:-Changed resolution input to the built-in input type. Note: to get custom resolutions added to the available dropdown you would need to switch back to the old method.
-Added separate deviation multipliers for the upper and lower bands.
-Added an option for a basic fill, for those who don't care for the %B based gradient.
-Added the ability to smooth out the upper and lower band individually with a custom selection of Moving Averages.
-Added several alert conditions in relation to price crossing over or under the respective bands.
Release Notes
Minor change in the title of the new resolution input.Release Notes
Update: Had to "undo" the change to using the built-in resolution input as this broke forecasting for some reason.Release Notes
Added ALMA, improved function code.Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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💻 Website: bigbits.io
📺 YouTube: youtube.com/bigbits
🎮 Discord: discord.gg/rapMn4z
🐦 Twitter: twitter.com/BigBitsIO
💸 Save $30 on TradingView Paid Plan: bit.ly/2CaRfjs
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.