OPEN-SOURCE SCRIPT
Updated [JR] Multi Bollinger Heat Bands - EMA/Breakout options
A little, yet hopefully useful update over my previous "Multi Bollinger Heat Bands". For those who like quick visual cue's.
In short: It's your Basic Bollinger Bands, but 3 of them, and some pointy things.
In full:
In short: It's your Basic Bollinger Bands, but 3 of them, and some pointy things.
In full:
- Three stacked SMA based Bollinger Bands designed just to give you a quick visual on the "heat" of movement.
- Set inner band as you would expect, then set your preferred additional multiplier increments for the outer 2 bands.
- Option to use EMA as alternative basis, rather than SMA.
- Breakout indication shapes, which have their own multiplier (but still tied to same length/period as the BB's) so you can make them pop on their own separate "band".
Note
New iteration of this script here:
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.
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.
For quick access on a chart, add this script to your favorites — learn more here.
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.