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RoseTree Golden Bands

40
RoseTree Golden Bands
Overview
RoseTree Golden Bands is a volatility-based support indicator that uses Fibonacci ratios combined with Average True Range (ATR) to identify potential buy zones below price action.
How It Works
The indicator calculates a simple moving average (SMA) of the closing price, then subtracts ATR-based offsets using two key Fibonacci extensions (2.618 and 4.236) to create dynamic support bands that expand and contract with market volatility.
Components
Orange Line (Level 2) — SMA minus ATR × 2.618. Acts as the first support level and early warning zone.
Green Line (Buy Zone) — SMA minus ATR × 4.236. Represents deeper support where price has historically found strong buying interest.
BUY Signal — Triggers when the candle's low comes within 2% of the green line, alerting you to potential accumulation opportunities.
Settings

Length: Period for both SMA and ATR calculations (default: 20)
Fibonacci Ratio 2: Multiplier for the orange band (default: 2.618)
Fibonacci Ratio 3: Multiplier for the green buy zone (default: 4.236)

Usage
Look for BUY signals during pullbacks in an uptrend. The bands adapt to volatility, widening during turbulent markets and narrowing during consolidation. Best used alongside trend confirmation and volume analysis rather than as a standalone signal.

Invite-only script

Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact ZackBakos directly.

TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.

Author's instructions

To access this indicator, you must be a member of the RoseTree community. Visit rosetree.com to join, then DM me your username to receive access.
Warning: please read our guide for invite-only scripts before requesting access.
ZackBakos
Also on:
Bands and Channels

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.
Bands and Channels

Invite-only script

Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact ZackBakos directly.

TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.

Author's instructions

To access this indicator, you must be a member of the RoseTree community. Visit rosetree.com to join, then DM me your username to receive access.
Warning: please read our guide for invite-only scripts before requesting access.
ZackBakos
Also on:

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.