Bollinger bands and Keltner bands
█ OVERVIEW
This is a Bollinger band Script, with Keltner Channel Bands and for scalping.
█ CONCEPTS
1 — Bollinger Bands, The Bollinger band component is make out from two part, the standard component represented by a white cloud.
This is the 2nd deviation and 3rd deviation filled.
The second part linear weight
This is the 2nd deviation, and is filled from the 3rd deviation from the standard bands. This give the effect of cutting in and out to proved a support and resistance cloud.
2 — Keltner bands, this is the normal calculation, nothing special, by default this is off and can be turned back on in styles.
3 Deviations with ALMA as the Basis
3 — Non-traditional basis
Like with you can change the base moving average
but to a lesser extent.
option are:
sma = Simple Moving Average
ema = Exponential Moving Average
wma = Weighted Moving Average
vwma = Volume Weighted Moving Average
rma = Running Moving Average
alma = Arnaud Legoux Moving Average
hma = Hull Moving Average
█ OTHER SECTIONS
• LIMITATIONS: again this is base on moving average so there is a lag factor, the cloud do not work without volume so if the indicator can not pull volume data you are left with the standard bands.
• NOTE this is a trimmed version of still functions the same.
• THANKS: rumpypumpydumpy for the inspiration
Bandes de Bollinger (BB)
BB+RSI+EMA BUY/SELL SignalsBINANCE:BTCUSDT
* * * TESTED ON BTCUSDT 4H CHART * * *
The indicator gives signals based on candles touching BB lines and RSI oversold/overbought conditions, also a 200 EMA filter is used to trade following the major trend.
Only LONG signals are given.
Signals are divided in 3 categories based on their strenght:
- Weak BUY/SELL (green/red circles on chart)
- normal BUY/SELL (green/red triangles with "BUY" or "SELL" text on chart)
- strong BUY/SELL (green/red labels with "STRONG BUY" or "STRONG SELL" text on chart)
You can use signals from the same category as triggers for entering or exiting a trade or you can try using signals from different categories
All indicators settings can be costumized
Every signal label can be turned ON/OFF
EMA that changes color based on last candle close can be turned ON/OFF
Alerts can be set for:
- General Signals (every signal will trigger it)
- Weak Signals (only weak signals will trigger it)
- Normal Signals (only normal signals will trigger it)
- Strong Signals (only strong signals will trigger it)
Zero-Lag MTF PSAR MACD with Bollinger Bands v1.0 [loxx]Zero-Lag MTF PSAR MACD with Bollinger Bands v1.0
This is an experimental indicator that captures PSAR movements on seven different timeframes in order to improve trend detection on the daily timeframe. The seven PSARs are averaged and then fed into a zero-lag MACD function where the average of the PSARs is the source for the slow moving average and the daily timeframe close is the sourse of the fast moving average.
Things to know:
- Dark Green Background: All seven PSAR waves are above the closes of the PSARs respective timeframes; i.e., macro trend up
- Dark Red Background: All seven PSAR waves are below the closes of the PSARs respective timeframes; i.e., macro trend down
- Histogram and bar coloration is based on the difference between close and the average of all seven PSARs
- Various color schemes included
- Indicator has neither been backtested nor tuned with a strategy backtest
How to use:
Reversal Longs and Shorts
- Bollinger Bands show movement outside of normal deviation around the zero line. Wait for MACD to reach the either side top or bottom of Bollinger Bands for reversal long and reversal short respectively
- Check that MACD has crossed over or under the Signal line; i.e., denoted with a green dot for cross up and red dot for cross down
- Check dark background colors to see where the PSAR waves are currently situated and whether PSAR wave direction has aligned on all time frames
Longs and Shorts
- Longs: Check when MACD is above the zero line and the Signal line crosses over the zero line
- Shorts: Check when MACD is below the zero line and the Signal line crosses below the zero line
Strong Confluence:
- Longs/Shorts: Whenever the MACD crosses up or crosses down over/under the Signal/Zero line while inside a candle with background highlighting
- Reversals: Whenever the MACD crosses up or crosses down over/under the Signal/Zero line while inside a candle with background highlighting and at the very top/bottom or outside the top/bottom of the Bollinger Bands
Comment below or send a PM with questions, comments, observations, or concerns.
Bollinger Bands Performance - TradingEDThis case study is based on a previous Bollinger Bands study, but with only one counts and a performance chart. The use of this indicator is restricted to private use and it can be used only by invitation. Different functionalities have been added to the original code, such as alerts and signals that seek to make trading much easier to interpret by any type of trading operator of any experience level , from beginner to intermediate and advanced .
Key components of the original indicator:
• The Bollinger Bands are a technical analysis tool developed by John Bollinger to generate signals of overbuying and overselling.
• There are three lines that compose Bollinger Bands: one Simple Moving Average (middle band) and an upper and lower band.
• The Upper and Lower Bands are typically used with 2 Standard Deviations +/- of a 20-day Simple Moving Average (or 20 candles) but can be modified.
The use of Bollinger Bands is based on the concept of mean price reversal, assuming that if the price deviates from the Moving Average it will eventually return to the mean price. As recognized by its creator: John Bollinger , "the touches of the bands are just that, touches, not signals".
So, a touch from the top is not in itself a sell signal and vice versa, a touch below should not be a buy signal either. A trader must look at the general direction of the price and then only take signals that align with the trend. For example, if the trend is down, you should only consider short positions when the lower band is indicated, and in case of an uptrend, take only long positions.
Another important point in the use of this indicator is that the bands will expand and contract as the Price Action becomes volatile (expansion) or is limited in its trading pattern (contraction). After a strong rise or fall in the trend, the market may consolidate, trading closely and crossing over and below the Moving Average until defining a new course, or continuing with the previous direction.
Main functions of this modified indicator:
1) You can select the type of MOVING AVERAGE , among many available options ( SMA , EMA , DEMA , HMA , etc.)
2) The SOURCE for the count can be determined by the trader (close, open, etc).
3) The MEASURE can be based on a CANDLES count if you are trading OHLC Charts from 1D onwards, or if your trading is intraday, you can also select counts by MINUTES , HOURS or DAYS , depending on your trading style.
4) LENGTH, by default it will be loaded as 20 but considering the previous point, you can modify it according to your convenience.
5) STANDARD DEVIATION , by default it will come loaded with 2 deviations, but you can modify it according to your convenience to operate.
6) You have the option to hide or show a LABEL at the top of the chart, with respect to the signals: bullish green, bearish red.
7) You have the option to hide or show SIGNALS based on the MOVING AVERAGE that you have previously chosen.
8) You have the option to hide or show SIGNALS based on the STANDARD DEVIATION that you have previously chosen.
Main functions to customize the style of this indicator:
a) You can select the colors for the UPPER BAND , MOVING AVERAGE and LOWER BAND depending on the trend, whether it is BEARISH or BULLISH, with the colors that best suit you. *
b) When you have a SHORT SIGNAL or a LONG SIGNAL, you can change the EMOTICON that comes by default. **
c) For any type of SIGNAL , it is painted as a VERTICAL LINE in the graph, you can change the color that comes by default. *
d) In the case of the LABELS that appear at the top, the text is not modifiable, but you can customize both the type of label and change the default color. *
e) You can select the colors for the BACKGROUND of the indicator according to the trend, whether it is BEARISH or BULLISH , with the colors that best suit you. *
* By default, they are marked as red for downtrends and green for uptrends.
** By default, they are marked with an emoticon indicating the possible direction of the price, down if it is bearish or up if it is bullish .
BBI Bollinger BandsBBI (Bull and Bear Index) is an indicator aims on measuring the general short/mid-term (< 1 month) trend and sentiment of the stock/market. It used an average of 4 SMAs (3, 6, 12, 24) as a cut-off of a bullish/bearish trend. In general, YMMV, you can enter when close> BBI and exit when close<BBI.
BBI Bollinger Bands uses BBI as "basis" and calculates variations (Stdev) of BBI during the past several days. In general, BBI Boll band is more volatile than the traditional Boll Band.
The "possible entry and exit" function is for fun, trying to spot the point where there is extreme fear and optimism, not necessarily working yet.
Stochastic RSI Heat Bollinger BandsThis indicator is based on a combination of the famous Bollinger Bands and the Stochastic RSI indicator.
Bands are dynamically colored (and filled) with a RGB color composed by red and green values, directly generated from the average Stochastic RSI current value.
By default, colors represent the following status -> green zone is overgought & red zone is oversold.
A screener is also displayed on the chart, representing StochRSI K and D lines values, RSI value, as well as the current status (Overbought/Oversold) of the StochRSI and RSI indicators.
Notes:
The heat color and the screener status are both based on the average value between the K and D lines (for stochastic RSI based heat)
Bands can be disabled in options to use this indicator as a simple moving average colored by the Stochastic RSI heat color.
Options:
Various moving average types (SMA, EMA, SMMA, VWMA...)
Inversion of colors between overbought and oversold status
Enabling/disabling heat color on bands / basis line and bands background color
Show/Hide the screener
Color source can be modified to base the heat on the RSI instead of the Stochastic RSI value
Standards Bollinger bands, Stochastic and RSI parameters
Example
Feel free to suggest any improvements in comment.
Bollinger Bands Triple - TradingEDThis case study is based on a previous Bollinger Bands study, but with 3 different counts to compare different trends. The use of this indicator is restricted to private use and it can be used only by invitation. Different functionalities have been added to the original code, such as alerts and signals that seek to make trading much easier to interpret by any type of trading operator of any experience level, from beginner to intermediate and advanced .
Key components of the original indicator:
• The Bollinger Bands are a technical analysis tool developed by John Bollinger to generate signals of overbuying and overselling.
• There are three lines that compose Bollinger Bands: one Simple Moving Average (middle band) and an upper and lower band.
• The Upper and Lower Bands are typically used with 2 Standard Deviations +/- of a 20-day Simple Moving Average (or 20 candles) but can be modified.
The use of Bollinger Bands is based on the concept of mean price reversal, assuming that if the price deviates from the Moving Average it will eventually return to the mean price. As recognized by its creator: John Bollinger , " the touches of the bands are just that, touches, not signals ".
So, a touch from the top is not in itself a sell signal and vice versa, a touch below should not be a buy signal either. A trader must look at the general direction of the price and then only take signals that align with the trend. For example, if the trend is down, you should only consider short positions when the lower band is indicated, and in case of an uptrend, take only long positions.
Another important point in the use of this indicator is that the bands will expand and contract as the Price Action becomes volatile (expansion) or is limited in its trading pattern (contraction). After a strong rise or fall in the trend, the market may consolidate, trading closely and crossing over and below the Moving Average until defining a new course, or continuing with the previous direction.
Main functions of this modified indicator:
1) You can select the type of MOVING AVERAGE , among many available options ( SMA , EMA , DEMA , HMA , etc.)
2) The SOURCE for the count can be determined by the trader (close, open, etc).
3) The MEASURE can be based on a CANDLES count if you are trading OHLC Charts from 1D onwards, or if your trading is intraday, you can also select counts by MINUTES , HOURS or DAYS , depending on your trading style.
4) LENGTH , by default it will be loaded as 20 but considering the previous point, you can modify it according to your convenience.
5) STANDARD DEVIATION , by default it will come loaded with 2 deviations, but you can modify it according to your convenience to operate.
6) You have the option to hide or show a LABEL at the top of the chart, with respect to the signals: bullish green, bearish red.
7) You have the option to hide or show SIGNALS based on the MOVING AVERAGE that you have previously chosen.
8) You have the option to hide or show SIGNALS based on the STANDARD DEVIATION that you have previously chosen.
Main functions to customize the style of this indicator:
a) You can select the colors for the UPPER BAND, MOVING AVERAGE and LOWER BAND depending on the trend, whether it is BEARISH or BULLISH , with the colors that best suit you. *
b) When you have a SHORT SIGNAL or a LONG SIGNAL , you can change the EMOTICON that comes by default. **
c) For any type of SIGNAL , it is painted as a VERTICAL LINE in the graph, you can change the color that comes by default. *
d) In the case of the LABELS that appear at the top, the text is not modifiable, but you can customize both the type of label and change the default color. *
e) You can select the colors for the BACKGROUND of the indicator according to the trend, whether it is BEARISH or BULLISH , with the colors that best suit you. *
* By default, they are marked as red for downtrends and green for uptrends.
** By default, they are marked with an emoticon indicating the possible direction of the price, down if it is bearish or up if it is bullish .
Bollinger bands dynamic alertsThis triple Bollinger script is very useful for options traders to determine the trend condition. When the trend stays within 1 sigma limits it is termed as "congestion", breakout of congestion starts the "trending" phase and the big breakout termed "Blowout" happens when the underlying crosses the 2sigma and reaches 3 sigma limits in very short time at steep trend angles. The script provides dynamic alerts as soon as the underlying breaks out of these zones and enables options traders to stay in the trade longer. www.tradingview.com
Asian Session Bollinger BandsThis is a fairly simple adjustment of the Bollinger Bands highlighting and giving the character to the Asian session.
The Directional Cross StrategyA simple chart-based strategy, which capitalizes on trend change.
Based on Azeez Mustapha's article featured in Stocks & Commodities Oct 2021 issue.
This indicator consists of three tools: a simple moving average (SMA), price envelopes, and Bollinger Bands.
Please note that this strategy only works in trending markets.
What is a trending market?
A trending market is one that is ascending with higher highs and higher lows or descending with lower highs and lower lows.
So, when the market is ranging it's not a good fit for this strategy. It is therefore advisable for the trader to stay out of the market when consolidation is noticed.
Usage of other tools in combination with this one is recommended to determine the market conditions.
Ok, so how to use this indicator:
The combination of the indicators used in this strategy displays BUY and SELL alerts.
When the lower line of the envelope on the chart would cross over the lower band of the Bollinger Bands, a BUY alert is displayed.
When the upper line of the envelope on the chart would cross down the upper band of the Bollinger Bands, a SELL alert is displayed.
As always, proper risk management should be followed.
EXAMPLES:enhanced_taThis script is created to demonstrate usage of enhanced ta library which is present here :
Following custom indicators are populated in this script:
ma (Select moving average)
atr/atrpercent (With custom moving average)
bands - Bollinger Band, Keltner Channel, Donchian Channel (All with enhanced versions and additional options)
bandwidth - Bandwidth for the bands available. Uses same input as that of bands
bandpercent - Percentage in relation to band upper and lower levels. Uses same input as that of bands.
oscillator (oscillatorRange) - Generating custom overbought oversold regions.
Display Options
Display individual indicator by selecting them through dropdown. If you select all, we also look at overlay and non-overlay parameters to show/hide only those indicators which are applicable on candle overlay or as separate window.
RSI OBLIVION This is a powerful tool if combined with other parameters. It's an advanced version of an RSI .
It shows OB and OS conditions and price direction or shift of the trend.
This indicator can be used in various ways with all markets.
The current settings are designed to work with futures market.
Combined with our TSI and Price action, RSI OBLIVION is the most reliable KPI out there.
Reached out to us for assistance.
M.Right_Top & Bottom Finder 1.0Thank you @Lazybear for the calculations for squeeze and BB, and all of the other great pine-coders who inspired me to create my own indicator to share!
This is the result of hours of work learning to code pine and tweaking until everything fits exactly what I was looking for.
After using it for a while and seeing the benefits personally, I figured now might be a good time to share with everyone while we are in such great market volatility, maybe I can save you some losses.
Basically, my indicator is meant to use volatility and standard deviations to show you the top and bottom of trends.
It does indeed work on lower timeframes, I typically use it on 5m, 30m, 4hr, and 1d.
What to look for:
When it detects the trend bottoming it will send a green histogram bar down, I also created a different shade green for even more likely bottoms.
When it detects the top of the trend it will send a red bar up, I have a brighter red for more certain tops.
The length of the histogram bar is also an indication as well. Sometimes there will be a reversal while still just showing the gray bar.
I just added alerts, so hopefully those work. If not, I will update.
Let me know if you have any questions, and enjoy.
Cheers!
[jav] Better Bollinger BandsBetter Bollinger Bands (BBB)
This script is a modification of classic Bollinger Bands (BB).
CHARACTERISTICS
Main improvement over BB:
There is no need to introduce a standard deviation multiplier (usually 2).
Here, only a length is needed (usually 20 bars for BB).
Other features:
The type of moving average can be selected: sma, ema, vwma, wma or rma.
An inner band is plotted as an additional indication of approaching extreme levels.
Classic BB can also be shown on the graph for the sake of comparison.
CALCULATIONS
The calculation of BBB is done by adding three different contributions:
Standard deviation of price
Standard deviation of (price minus moving average)
Average of (high - low) over length.
RESULTS
It looks like BBB follows prices more smoothly (without the typical overshoots of BB). Also, it fits extreme values with higher accuracy. Finally, usually it doesn't cross through prices at less relevant, intermediate higher highs or lower lows, which can be advantageous.
See the comparison between red BBB vs blue BB:
Both vwma and ema seem to give decent BBB values using the standard length of 20 bars.
Bollinger Bands with Customizable Expansion DetectorJapanese below / 日本語説明は下記
Bollinger bands with customizable expansion signals
What’s new in this indicator?
This indicator allows users to customize Bollinger bands expansion signal with the conditions below.
1. Target bands
Which bands should be considered as expansion when price crossing?
Available options are plus/minus 1-3 σ.
2. Price
Which price should be considered as bands breakout
Available options are high, low and close
3. Band width increment(volatility)
When band width is N times wider than previous bar. N = ?
This parameter is regarded as volatility expansion, measuring how much band width gets wider than previous bar.
Band width is distance between each band and middle line(SMA).
Expansion signals are displayed when 1, 2 and 3 are all met.
For example, if you select parameters as follows, expansion signals are appeared when;
Bullish expansion:
When prices(highs) cross over plus 2 σ band with band width of the current candle is 1.15 times wider than previous bar.
Bearish expansion:
When prices(lows) cross under minus 2 σ band with band width of the current candle is 1.15 times wider than previous bar.
Selected parameters(Example)
1. 2σ
2. High/low
3. 1.15
Alert can be set when conditions above are met.
You can customize them to be best fit for you!
————————————————————
エクスパンションの発生条件をユーザが独自にカスタマイズし、シグナル表示できるボリンジャーバンドです。
以下の3つの要素を組み合わせることでユーザ独自のエクスパンションシグナルをカスタマイズすることができます。
1. 対象バンド
どのバンドをブレイクした時にエクスパンションの条件の一つとするかを選択
選択可能オプションはプラスマイナス1-3シグマ
2. 価格
どの価格でバンドをブレイクした時にエクスパンションとみなすかを選択
上方ブレイクは高値·終値から、下方ブレイクは安値·終値から選択可能
3. バンドの広がり(ボラティリティ)
現在ローソク足のバンド幅が一つ前のローソク足のバンド幅のN倍の時、エクスパンションとみなすための数値
Nは0.1-10の間で設定可能
バンド幅は各バンドとミドルライン(SMA)の距離です。
エクスパンションのシグナルは上記1-3全てを満たした時に表示されます。
例: 以下のようにパラメーター設定した場合、エクスパンションシグナルは下記の時に表示されます。
選択パラメーター（例）
1. 2σ
2. High/low
3. 1.15
上方エクスパンション:
高値がプラス2シグマバンドを上に抜き、かつ現在ローソク足のバンド幅が一つ前のローソク足のバンド幅の1.15倍を超える場合
下方エクスパンション:
安値がマイナス2シグマバンドを下に抜き、かつ現在ローソク足のバンド幅が一つ前のローソク足のバンド幅の1.15倍を超える場合
上記条件が揃った場合のアラート設定も可能です。
7 Moving Averages [Plus]Moving Averages are price based, lagging (or reactive) indicators that display the average price of a security over a set period of time. A Moving Average is a good way to gauge momentum as well as to confirm trends, and define areas of support and resistance. Essentially, Moving Averages smooth out the “noise” when trying to interpret charts. Noise is made up of fluctuations of both price and volume. Because a Moving Average is a lagging indicator and reacts to events that have already happened, it is not used as a predictive indicator but as an interpretive one for confirmations and analysis.
Bollinger Bands (BB) are a widely popular technical analysis instrument created by John Bollinger. The BB consist of a band of three lines which are plotted in relation to security prices. The line in the middle is usually a Simple Moving Average (SMA) set to a period of 20 days (the type of trend line and period can be changed by the trader; however a 20 day moving average is by far the most popular). The SMA then serves as a base for the Upper and Lower Bands which are used as a way to measure volatility by observing the relationship between the Bands and price. Typically the Upper and Lower Bands are set to two standard deviations away from the SMA (The Middle Line); however the number of standard deviations can also be adjusted by the trader.
This script shows 6 moving averages and Bollinger Bands.
Features:
- Standard MA inputs.
- MA type.
- MA period.
- MA source.
- MA resolution (time frame).
- MA Offset.
- Forecasting : forcasted prices are calculated using our MAType and MASource for the MAPeriod.
- Trail: Show only candles not included in the MA calculation.
The color of MA1 depends on the chosen strategy, by default this is the 3EMA strategy. You can also select "Pivot Point Supertrend" or "Ichimoku Trend"
Added "Parabolic Stop and Reverse (PSAR)" . The PSAR is a time and price technical analysis tool primarily used to identify points of potential stops and reverses. In fact, the SAR in Parabolic SAR stands for "Stop and Reverse". The indicator's calculations create a parabola which is located below price during a Bullish Trend and above Price during a Bearish Trend.
Added "Linear Regression Channel" which can be correctly plotted on logarithmic charts. A linear regression channel consists of a median line with 2 parallel lines, above and below it, at the same distance. Those lines can be seen as support and resistance. The median line is calculated based on linear regression of the closing prices but the source can also be set to open, high or low. The height of the channel is based on the deviation of price to the median line. Extrapolating the channel forward can help to provide a bias and to find trading opportunities.
3Commas TA Start Conditions Indicator v1.0Introduction
The indicator attempts to implement the "Technical Analysis Starting Conditions" found in the 3Commas DCA trading bot settings.
How is it original and useful and how does it compare to other scripts in the Public Library?
This indicator is unique in that it's the only one (as of the initial publications) that can handle 5 signal indicator types at the same time as well as output the signal values either to the chart or the data window. The indicator supports all of the following 3Commas built-in indicators on the 3 minute, 5 minute, 15 minute, 30 minute, 1 hour, 2 hour, and 4 hour time frames:
RSI-7
ULT-7-14-2
BB-20-1-LB (Long)
BB-20-2-LB (Long)
MFI-14 crosses 40 (Long)
MFI-14 crosses 20 (Long)
CCI-40 crosses -200 (Long)
BB-20-1-UB (Short)
BB-20-2-UB (Short)
MFI-14 crosses 65 (Short)
CCI-40 crosses 0 (Short)
CCI-40 crosses 100 (Short)
What does it do and how does it do it?
When applied to the chart for the first time, the default settings are completely blank, so the only chart element you will see is the "Start Condition Result" line in orange. Once you start applying settings in the "DEAL START CONDITION" section, the indicator will redraw and display the new values for the "Start Condition Result" line. A value of 1 indicates that the results of the condition(s) is "passing". Conversely, a value of 0 indicates that the results of the condition(s) is NOT passing. If you desire to dig deeper into why the indicator is producing the results, you can enable the "Show TA Indicator # Plot" to visually see the values on the price chart or simply open the Data Window panel to see their values as you hover over the candles in the price chart.
This indicator can be used with any indicator in the Public Library that seeks to emulate the 3Commas Technical Analysis Starting Conditions for a signal provider. For example, this indicator can be used our own 3Commas DCA Bot Strategy v1.0 to aid in your backtesting analysis and build confidence that your bot will perform given historical market data that TradingView provides. When you do so, make sure that the "Strategy" input has the same values with the two indicator settings.
Enjoy! 😊👍
How to obtain access to the script?
You have two choices:
Use the "Website" link below to obtain access to this indicator, or
Send us a private message (PM) in TradingView itself.
Divergence, RSI+Bollinger Band breachHi everyone, I have developed a divergence system using RSI and Bollinger Bands. It contains a series of filters which are fine tuned to generate razer sharp entries. It works by first identifying divergence between peak 1 and peak 2. Peak 1 must have enough momentum and strength to Breach the Bollinger bands. Once these criteria are met, a white candle will signal an entry to go long or short. The take profits for this trading system are most accurate when set at about 50-70% retracement of the bottom/top of the valley, to the trade entry. Stop loss's can be set 1:1 or up to the discretion of the trader if they so choose to grid/martingale their way out of a loosing trade. Signals are best taken on the 30M timeframes, and using upper time frames to determine market structure ( support, resistance, fibs, ) or what ever you may use to provide confidence of a reversal.
Bollinger Bands With User Selectable MABollinger Bands with user selection options to calculate the moving average basis and bands from a variety of different moving averages.
The user selects their choice of moving average, and the bands automatically adjust. The user may select a MA that reacts faster to volatility or slower/smoother.
Added additional options to color the bands or basis based on the current trend and alternate candle colors for band touches. Options:
REACT SLOW/SMOOTH TO VOLATILITY
simple moving average (Regular Bollinger Bands)
REACT SMOOTH TO VOLATILITY
exponential moving average (EMA Bollinger Bands)
weighted moving average (Weighted MA Bollinger Bands)
exponential hull moving average (Hull Bollinger Bands with better smoothing)
HIGHLY ADJUSTABLE TO VOLATILITY
Arnaud Legoux Moving average (ALMA Bollinger Bands)
Note: 0.85 ALMA default for more smoothing, set offset=1 to turn off smoothing
REACT HARSH TO VOLATILITY
least squares moving average (Least Squares Bollinger Bands)
REACT VERY FAST TO VOLATILITY
hull moving average (Hull Bollinger Bands or Hullinger Bands)
VALUE ADDED: This script is unique in that no other Bollinger Bands indicator offers a user selection for moving average, and some of the options do not exist yet as Bollinger Bands indicators.
Definitions:
Bollinger Bands: A Bollinger Band® is a technical analysis tool defined by a set of trendlines plotted two standard deviations (positively and negatively) away from a simple moving average (SMA) of a security's price, but which can be adjusted to user preferences.
Exponential Bollinger Bands: The most important characteristics of the Exponential Bollinger Bands indicator are: When the market is flat, the bands will stay much closer to prices. When the volatility is high, the bands move away from prices faster.
Hull Bollinger Bands: Bollinger Bands calculated by Hull moving average, rather than simple moving average or ema. The Hull Moving Average (HMA), developed by Alan Hull, is an extremely fast and smooth moving average. In fact, the HMA almost eliminates lag altogether and manages to improve smoothing at the same time.
Exponential Hull Bollinger Bands: Bollinger Bands calculated by Exponential Hull moving average, rather than simple moving average or ema. The Exponential Hull Moving Average is similar to the standard Hull MA, but with superior smoothing. The standard Hull Moving Average is derived from the weighted moving average (WMA). As other moving average built from weighted moving averages it has a tendency to exaggerate price movement.
Weighted Moving Average Bollinger Bands: A Weighted Moving Average (WMA) is similar to the simple moving average (SMA), except the WMA adds significance to more recent data points.
Arnaud Legoux Moving Average Bollinger Bands: ALMA removes small price fluctuations and enhances the trend by applying a moving average twice, once from left to right, and once from right to left. At the end of this process the phase shift (price lag) commonly associated with moving averages is significantly reduced. Zero-phase digital filtering reduces noise in the signal. Conventional filtering reduces noise in the signal, but adds a delay.
Least Squares Bollinger Bands: The indicator is based on sum of least squares method to find a straight line that best fits data for the selected period. The end point of the line is plotted and the process is repeated on each succeeding period.
Bricklayer's Volatility MeterBricklayer's Volatility Meter will calculate Bollinger Bands Width up to 20 different lengths between lowest and highest input.
• If it is increasing, the brick will be green.
• If it is decreasing, the brick will be red.
The idea is that if volatility is decreasing across an increasing number of periods, the market will be ready for different strategies than when it is increasing.
Good luck trading!
Profit Accumulator Bollinger Band TrendHi everyone,
I've been playing with the idea of trying to trend bollinger band movement of various currencies. What I've got here is the result of that. In its very basic form its a tool to identify the start and end of both long and short term trends.
The thick line (red/green) indicates whether this is a bullish (green) or bearish (red) movement and generally governs the longer term trend. The thinner, black line indicates the movements within the market. Anything above the zero line indicates positive movement where trades could be placed (along with the main trend line). When this line moves below the zero line, it appears to highlight uncertainty and the potential trend coming to an end.
If anyone would like alerts adding to this indicator then please let me know.
Thanks
Mike
Berzerker IndexSome pairs have their own distinct behavior. That includes volatility, news reactiveness, trend x chop day discrepancy, and other qualities.
At first, I tried to measure this with the Choppiness Index, but it looks pretty much alike when you compare symbols like EURNZD and GBPCAD, but my testing shows some major behavioral differences between the two. Hence, I decided to build my own measurement which I later decided to call Berzerker Index.
• The calculation takes the previous value and adds 1, 3, 7, or 15 depending on how many standard deviations the price beats.
• Deviations use Jurik Moving Average as a central line. If there is no new penetration, the total value will not be increased.
• At the end of the value update, the result will decay whether it is changed or not. The readings decay significantly faster if the price is between the bands.
• The beginning of the calculation is the beginning of the chart. There isn't any period for the calculation.
As you can see, from the beginning of the year, the maximum readings on EURNZD are 49.8 and 73.6 for GBPCAD. This is what I wanted to achieve - find some way to clearly differentiate the pairs. Later, I went on EURUSD to confirm the results. EURUSD should be a calmer pair and it shows 33.5 which supports the theory.
The symbols with small bars and explosions on events and bank meetings will reach high values, whereas those that are more predictable with less extreme movements will be found below 45.
Lastly, you may identify long periods of continuous descend on the indicator as setting up for a large explosion. This is not the original idea but could work nevertheless.
Of course, I will further update this indicator if I get improvement ideas...
FAQ:
► Does this repaint?
• No.
► Where is the buy signal?
• There isn't one. The purpose is to study repeated behavioral patterns of different symbols, not to drink from the holy grail.
► Why is it called the 'Berzerker' Index?
• I don't know.
I used @everget's version of Jurik's Moving Average with his consent.
What do ya thing?
RSI in Bollinger bandsI added Bolinger bands to the RSI indicator.
This shows you the area of reversal for the RSI. Generally, when the indicator falls out of the bands, you'll see a quick reversal. Indeed this is a better way to find the overbought and oversold areas.
