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OPEN-SOURCE SCRIPT

Bollinger %B Candles

By Trendoscope
Wizard
Updated
Candlesticks made from Bollinger %B of high, low, open and close.

Input parameters are explained below:

  • BBLength : Bollinger band periods. Standard deviation is hardcoded as percent B scale does not change with standard deviation.
  • UseMovingAverage : Candles are formed on moving average of Bollinger Percent B instead of absolute values.
  • Moving Average Type : Type of moving average to apply on Bollinger %B values
  • Lookback Period : Moving Average periods.
  • ColorByPreviousClose : Color candles based on previous close.
Release Notes
Making it bit spicy by applying supertrend on the candles.
Release Notes
Fixed error
Bollinger Bands (BB)Moving AveragesTrend Analysis

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 publication is governed by House rules. You can favorite it to use it on a chart.

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Trendoscope
Wizard
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