LoTek - Bull Market Support Band w Projections

This indicator will allow you to enter a future price change, either positive or negative, and see how that would affect the Bull Market Support Band.

The BMSB consists of the 21 EMA and the 20 SMA on the weekly timeframe. Legend has it, as long as you are above this band, BULL MARKET'S ON BABY! If not... then, watch out below....

Note: Price change is in percentage. 100 = 100%, 5 = 5% 0.25 = 0.25%

Release Notes

Added the ability to change the color of the band fill based on Bull or Bear trend. I've left them defaulted to orange, because that's how I like it for now, but the settings are in there to modify it.

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.

For quick access on a chart, add this script to your favorites — learn more here.

lotekjunky

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

For quick access on a chart, add this script to your favorites — learn more here.

lotekjunky