Bollinger-Bands.Multi_Choice

Jan 2, 2023

(BBMC) "Bollinger-Bands.Multi_Choice" indicator gives the end user a choice of which Moving Average they want to use.

The MA choices available are:
SMA = simple moving average
EMA = exponentially weighted moving average
RMA = moving average used in RSI
WMA = weighted moving average
VWMA = volume weighted moving average
VWAP = volume weighted average price
HMA = Hull moving average
SWMA = symmetrically weighted moving average
ALMA = Arnaud Legoux moving average

The default setting inputs are:
source = OHLC4
length = 13
ALMA offset = 0.89
ALMA sigma = 5
Moving average type = VWMA
Level 1 standard deviation = 1.0
Level 2 standard deviation = 2.0
Level 3 standard deviation = 3.0
Level 3 standard deviation = 4.0

The default setting colors are:
Top = white
R3 = green
R2 = orange
R1 = blue
pivot = white
(track pivot line = bullish is green, bearish is red)
S1 = purple
S2 = yellow
S3 = red
Bottom = white

I made this indicator from an idea I had for a few months with the help of pine coder scripts before me. Kudos to TradingView & @Madrid.

* This script uses altered pieces of code from TradingView "Intrabar Efficiency Ratio indicator" & Madrid "Bollinger Bands indicator" *

Jan 21, 2023

Release Notes

Due to the recent crypto upside volatility the past few weeks, I added an option for a 5th level band.
Plus, I changed the default input of standard deviation from the basis to Fibonacci level numbers.
The default color I used for the 5th level band is gray.

Jan 28, 2023

Release Notes

header update