OPEN-SOURCE SCRIPT
Updated [JR] Multi Bollinger Heat Bands - EMA/Breakout options
A little, yet hopefully useful update over my previous "Multi Bollinger Heat Bands". For those who like quick visual cue's.
In short: It's your Basic Bollinger Bands, but 3 of them, and some pointy things.
In full:
In short: It's your Basic Bollinger Bands, but 3 of them, and some pointy things.
In full:
- Three stacked SMA based Bollinger Bands designed just to give you a quick visual on the "heat" of movement.
- Set inner band as you would expect, then set your preferred additional multiplier increments for the outer 2 bands.
- Option to use EMA as alternative basis, rather than SMA.
- Breakout indication shapes, which have their own multiplier (but still tied to same length/period as the BB's) so you can make them pop on their own separate "band".
Note
New iteration of this script here:
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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