Bollinger Band Ribbon R1.0 by JustUncleL

This study is a Bollinger Band indicator that shows the fractional stddev levels between the main bands. You can choose upto 6 Stddev Main Levels (ie 6*StdDev), with 0,1,3,4, or 9 fractional levels.

Other options available are:

• Use different MA types for Basis of Bollinger: SMA, EMA, WMA and VWMA are good choices.
  
• Show previous days closing price.
  
• Show Previous days High and Low prices.
  
• Use Keltner Channel in place of Bollinger.
  

Release Notes:

Revision 2.0 - KC orientated changes.
These channel options were requested. The options are similar to my other Channel indicators like "MA Ribbon", the changes are:

• Added Option to display coloured candles based on BB/KC last channel line breakout conditions.
  
• Added Option to display only the Last Band when no SubLevels selected.
  
• Added Option to use Anchor Time Frame to emulate Higher Time frame results, on the current chart.
  
• Change some default colours.
  

This in depth analysis of GBPJPY over the last few days may help with how this indicator could be used:

Release Notes:

... Minor updates

• Added optional ATR smoothing for KC style channels
  
• Added SWMA type moving average.