Rashad

Fibonacci Bollinger Bands

These Bollinger bands feature Fibonacci retracements to very clearly show areas of support and resistance . The basis is calculate off of the Volume Weighted Moving Average . The Bands are 3 standard deviations away from the mean. 99.73% of observations should be in this range.
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
study(shorttitle="FBB", title="Fibonacci Bollinger Bands", overlay=true)
length = input(200, minval=1)
src = input(hlc3, title="Source")
mult = input(3.0, minval=0.001, maxval=50)
basis = vwma(src, length)
dev = mult * stdev(src, length)
upper_1= basis + (0.236*dev)
upper_2= basis + (0.382*dev)
upper_3= basis + (0.5*dev)
upper_4= basis + (0.618*dev)
upper_5= basis + (0.764*dev)
upper_6= basis + (1*dev)
lower_1= basis - (0.236*dev)
lower_2= basis - (0.382*dev)
lower_3= basis - (0.5*dev)
lower_4= basis - (0.618*dev)
lower_5= basis - (0.764*dev)
lower_6= basis - (1*dev)
plot(basis, color=fuchsia, linewidth=2)
p1 = plot(upper_1, color=white, linewidth=1, title="0.236")
p2 = plot(upper_2, color=white, linewidth=1, title="0.382")
p3 = plot(upper_3, color=white, linewidth=1, title="0.5")
p4 = plot(upper_4, color=white, linewidth=1, title="0.618")
p5 = plot(upper_5, color=white, linewidth=1, title="0.764")
p6 = plot(upper_6, color=red, linewidth=2, title="1")
p13 = plot(lower_1, color=white, linewidth=1, title="0.236")
p14 = plot(lower_2, color=white, linewidth=1, title="0.382")
p15 = plot(lower_3, color=white, linewidth=1, title="0.5")
p16 = plot(lower_4, color=white, linewidth=1, title="0.618")
p17 = plot(lower_5, color=white, linewidth=1, title="0.764")
p18 = plot(lower_6, color=green, linewidth=2, title="1")

Comments

Hi, is there any video on how to trade this strategy please ? Or if @Rashad you could share some light ?
+71 Reply
Samirelka alvintingck
@alvintingck, did you get a video?
+13 Reply
GF_Profits Samirelka
@Samirelka, Hello, is there a video on how to trade with this indicator? TY
+8 Reply
Can l access this indicator.
+70 Reply
Is this good for btc/alts so for sats....or only usd value?
+20 Reply
Rashad kourosht
@kourosht, A good model should be able to be applied to many of types of assets. Like such, this indicator is can be used for many different types of assets.
+8 Reply
One of my favourite indicator out there, It's working so well on Forex. Amazing job Mr Rashad!

However, for some reason, the indicator seems not to be adapted to every chart on Trading view (maybe a bug in the source code). The indicator doesn't display on some chart and show "n/a/n/a/n/a/a/n/a"

That's a pitty, maybe you can check that Rashad?

Have a green year.
+10 Reply
PaulMauddib BuffaloDebile
@BuffaloDebile, think that will be where VWAP data isn't available. On some CFD's it won't pull through.
+3 Reply
BuffaloDebile PaulMauddib
@PaulMauddib, Thanks !
Reply
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