OPEN-SOURCE SCRIPT
Noro's Bands Strategy
The central line is the central line of the price channel.
The line above the center is higher by the average deviation.
The uppermost line is higher by 2 mean deviations.
Similarly for lower lines.
It 's very similar to Bollinger Bands.
Strategy
If the price is above the top line, open the long position (and close the short position)
If the price is below the bottom line, open the short position (and close the long position)
The line above the center is higher by the average deviation.
The uppermost line is higher by 2 mean deviations.
Similarly for lower lines.
It 's very similar to Bollinger Bands.
Strategy
If the price is above the top line, open the long position (and close the short position)
If the price is below the bottom line, open the short position (and close the long position)
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.