Options360

Bollinger-Bands.Multi_Choice

Options360 Updated   
(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" *
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.
Release Notes:
header update

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.

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.

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