PROTECTED SOURCE SCRIPT
4 Bollinger Bands and 2 Exponential Moving Averages
Updated
This script contains multiple indicators of 3 types for better visibility and without having to select multiple indicators one by one and hence saving your time and energy. Also, minimum number of variables are being used in the script for better calculation speed and implementation .
This script is best suited for beginners who are not using pro version and finding it difficult to implement more than 3 indicators on a single chart layout :)
Indicators used :
1. Hybrid of Simple Moving Average and Bollinger Bands .
In this Indicator user can use total of 4 Moving Averages or 4 Bolinger Bands or both (eg: 3 Bolinger bands and 1 Simple Moving Average).
> How to use :
If you want to use Bollinger Bands simply check the boxes of all the 'Upper' and 'Lower' Bands under indicator format/settings.
Else if you want to use Simple Moving Average simply uncheck the boxes of all the 'Upper' and 'Lower' Bands under indicator format/settings.
Tip : You are free to experiment with the format/settings to use both Simple Moving Average and Bollinger Bands using 'MA Length' and 'StdDev'
(standard deviation).
2. Exponential Moving Average
In this indicator user can use 2 Exponential Moving Averages .
> How to use :
If you want to use 2 Exponential Moving Averages simply check 'Enable 2nd EMA' under format/setting inputs.
Else if you want to use only 1 Exponential Moving Average simply uncheck 'Enable 2nd EMA' under format/setting inputs.
Tip : You are free to experiment with both 'EMA_Length1' and 'EMA_Length2' and change it as per your requirments.
//Feel free to ping/DM me for any explaination on how to use this script as your ultimate trading strategy.
This script is best suited for beginners who are not using pro version and finding it difficult to implement more than 3 indicators on a single chart layout :)
Indicators used :
1. Hybrid of Simple Moving Average and Bollinger Bands .
In this Indicator user can use total of 4 Moving Averages or 4 Bolinger Bands or both (eg: 3 Bolinger bands and 1 Simple Moving Average).
> How to use :
If you want to use Bollinger Bands simply check the boxes of all the 'Upper' and 'Lower' Bands under indicator format/settings.
Else if you want to use Simple Moving Average simply uncheck the boxes of all the 'Upper' and 'Lower' Bands under indicator format/settings.
Tip : You are free to experiment with the format/settings to use both Simple Moving Average and Bollinger Bands using 'MA Length' and 'StdDev'
(standard deviation).
2. Exponential Moving Average
In this indicator user can use 2 Exponential Moving Averages .
> How to use :
If you want to use 2 Exponential Moving Averages simply check 'Enable 2nd EMA' under format/setting inputs.
Else if you want to use only 1 Exponential Moving Average simply uncheck 'Enable 2nd EMA' under format/setting inputs.
Tip : You are free to experiment with both 'EMA_Length1' and 'EMA_Length2' and change it as per your requirments.
//Feel free to ping/DM me for any explaination on how to use this script as your ultimate trading strategy.
Release Notes
What is new after this update:-1. Updated whole script to version4 and according to new changes in the pine script library.
2. Now user will have the option to show/hide different Bollinger Bands with the option of having upto 3 standard deviation with input value option for each.
Note : This Indicator can still be used to plot 4 moving avarage instead of bollinger bands by just CHECKING "show BB length(1,2,3or4)" and UNCHECKING "standard deviations" associated with it.
Release Notes
Minor update in variables and nomenclature.
Disclaimer
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