exlux99

Sideways detection bollinger bands

Sideways detection indicator using Bollinger bands .

In this case we take the original ratio between lower and upper and we smooth it even harder in order to get a better idea about the accuracy of the trend.

If the initial ratio is not between 0 and 1 and the smooth ratio is higher than our selected value, we get an idea if we are a in trending market or not.

Of course using it as a standalone has no usage, and it has to be combined with other tools like moving average, oscillators and so on.


IF you have any questions let me know

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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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