OPEN-SOURCE SCRIPT
Geometric Bollinger Bands
Analogous to Bollinger bands but performs all computations on the logarithms of the values.
Unlike the regular bollinger bands (or most other variations of them available on tradingview), these won't annoy you by rescaling the chart when you try to look at the Bitcoin weekly chart or any other chart with strongly exponential behaviour, and the moving average is perfectly centered between the two bands on your log chart. The lower band is guarenteed to be positive for positive inputs.
Unlike the regular bollinger bands (or most other variations of them available on tradingview), these won't annoy you by rescaling the chart when you try to look at the Bitcoin weekly chart or any other chart with strongly exponential behaviour, and the moving average is perfectly centered between the two bands on your log chart. The lower band is guarenteed to be positive for positive inputs.
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.