OPEN-SOURCE SCRIPT
INAZUMA Bollinger Bands [v3.0]
Overview
This indicator detects Bollinger Band ±2σ breaks ("Band Walk") and visualizes trend initiation and continuation with "Lightning/Magma" effects and count labels.
v3.0 Updates
Pine Screener Support (MTF Filter):
Added functionality to output Band Walk counts for a specified timeframe (e.g., Monthly) specifically for the Pine Screener. You can now screen for tickers that are band-walking on higher timeframes regardless of the chart's current timeframe.
Note: Calculations are performed in real-time without waiting for the bar to close, allowing for the detection of the latest trends even on monthly charts.
Code Optimization:
Cleaned up internal logic and variable naming conventions.
Features
Visual Effects:
Draws gradients based on price deviation when bands are broken.
Consecutive Count Labels: Displays the number of consecutive band walks directly on the chart.
Multi-Timeframe Settings: You can change the timeframe used for screener calculations (1D, 1W, 1M) via "Filter Timeframe" in the settings.
How to use with Screener
This indicator detects Bollinger Band ±2σ breaks ("Band Walk") and visualizes trend initiation and continuation with "Lightning/Magma" effects and count labels.
v3.0 Updates
Pine Screener Support (MTF Filter):
Added functionality to output Band Walk counts for a specified timeframe (e.g., Monthly) specifically for the Pine Screener. You can now screen for tickers that are band-walking on higher timeframes regardless of the chart's current timeframe.
- MTF Up Bandwalk Count: Consecutive upward band walk count for the specified timeframe.
- MTF Down Bandwalk Count: Consecutive downward band walk count for the specified timeframe.
Note: Calculations are performed in real-time without waiting for the bar to close, allowing for the detection of the latest trends even on monthly charts.
Code Optimization:
Cleaned up internal logic and variable naming conventions.
Features
Visual Effects:
Draws gradients based on price deviation when bands are broken.
Consecutive Count Labels: Displays the number of consecutive band walks directly on the chart.
Multi-Timeframe Settings: You can change the timeframe used for screener calculations (1D, 1W, 1M) via "Filter Timeframe" in the settings.
How to use with Screener
- Select this indicator in the Pine Screener.
- Add "MTF Up Bandwalk Count" or "MTF Down Bandwalk Count" to your columns.
- Set the desired timeframe (default: "1M") in the "Filter Timeframe" setting of the indicator.
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.
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.
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.