Siniorone

Bollinger Bands Fibonacci Ratio Standard Deviation LINES

Hello Traders.
in this script, Bollinger bands are made based on a standard deviation with respect to Fibonacci ratios. I hope you can be satisfied. If you are satisfied with this script, please like and feel free to share your comments with me.

Teal Upper and Lower B-Bands = 1.0 Standard Deviation
Aqua Upper and Lower B-Bands = 1.618 Standard Deviation
Orange Upper and Lower B-Bands = 2.618 Standard Deviation
Red Upper and Lower B-Bands = 3.618 Standard Deviation
Purple Upper and Lower B-Bands = 4.236 Standard Deviation

you can use this indicator by clicking the button (Add to Favorite Scripts) and then add it to your chart from (Fx) section.
Release Notes: Thanks for the tip from @fareidzulkifli
, the script has been updated with new changes
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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Comments

@Siniorone i like the idea, but cant help to think that your description is a bit off with how u code it, because your mult is defaulted to 2, shouldn’t your teal referring to 2 std deviation? And same goes to the other fib band, e.g. the aqua band, instead of 1.618 std dev, it should be described as 1.618 times mult of std dev?
+1 Reply
Siniorone fareidzulkifli
@fareidzulkifli, tnx for your comment , your remark was taken into consideration and script is updated
Reply
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