UCS_Value Bands — Indicator by UDAY_C_Santhakumar

Value bands kc standard deviations fair oversold overbought

value bands kc standard deviations fair oversold overbought

This Indicator is yet another variation of KC. Inspired from Value Charts webinar. I have seen their videos on youtube. What appears to be a variation of KC.
They use 12 bands Showing the zone, and different MA for different timeframes.

You can get this indicator close to accuracy by changing the inputs (ATR) and (Deviations)

This also can be used with the triple ATR setup - Change the values to EMA to desired value. To obtain the First band to plot @ 1, Change the Band deviation to 0.25.

Also can be used as as the Acceleration Band. With Current Settings, the Third Band will plot the Acceleration band.

List of All my Indicators -
Lycka Till

Uday C Santhakumar

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.

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.

Want to use this script on a chart?

// Created by UCSgears
// This is a variation to what value charts uses. 
// I have not seen their indicator code, But This is my interpretation, After all its just an indicator. 

study(title="UCS_Value Band", shorttitle="VB_UCS", overlay=true)
source = close
length = input(21, minval=1, title = "EMA Length")
atrlen = input(5, minval=1, title = "ATR Length")
atrlen2 = round(atrlen*1.5)
atrlen3 = atrlen*2

mult = input(0.2, minval=0.1, title = "Band Deviation")
ma = sma(source, length)
range =  tr
rangema1 = ema(range, atrlen)
rangema2 = ema(range, atrlen2)
rangema3 = ema(range, atrlen3)

up1 = ma + rangema1 * mult*1
up2 = ma + rangema1 * mult*2
up3 = ma + rangema1 * mult*3
up4 = ma + rangema1 * mult*4
up5 = ma + rangema2 * mult*5
up6 = ma + rangema2 * mult*6
up7 = ma + rangema2 * mult*7
up8 = ma + rangema2 * mult*8
up9 = ma + rangema3 * mult*9
up10 = ma + rangema3 * mult*10
up11 = ma + rangema3* mult*11
up12 = ma + rangema3 * mult*12

dn1 = ma - rangema1 * mult*1
dn2 = ma - rangema1 * mult*2
dn3 = ma - rangema1 * mult*3
dn4 = ma - rangema1 * mult*4
dn5 = ma - rangema2 * mult*5
dn6 = ma - rangema2 * mult*6
dn7 = ma - rangema2 * mult*7
dn8 = ma - rangema2 * mult*8
dn9 = ma - rangema3 * mult*9
dn10 = ma - rangema3 * mult*10
dn11 = ma - rangema3* mult*11
dn12 = ma - rangema3 * mult*12

plot(ma, color=aqua, title="Basis")

color1 = green
color2 = yellow
color3 = red

//plot(up1, color = color1)
//plot(up2, color = color1)
//plot(up3, color = color1)
u4 = plot(up4, color = color1, title="Fair Value Upper")
//plot(up5, color = color2)
//plot(up6, color = color2)
//plot(up7, color = color2)
u8 = plot(up8, color = color2, title="High Value Upper")
//plot(up9, color = color3)
//plot(up10, color = color3)
//plot(up11, color = color3)
u12 = plot(up12, color = color3, title="Extreme Value Upper")

//plot(dn1, color = color1)
//plot(dn2, color = color1)
//plot(dn3, color = color1)
d4 = plot(dn4, color = color1, title="Fair Value Lower")
//plot(dn5, color = color2)
//plot(dn6, color = color2)
//plot(dn7, color = color2)
d8 = plot(dn8, color = color2, title="High Value Lower")
//plot(dn9, color = color3)
//plot(dn10, color = color3)
//plot(dn11, color = color3)
d12 = plot(dn12, color = color3, title="Extreme Value Lower")

fill (u4,d4,green)
fill (u4,u8, yellow)
fill (d4,d8, yellow)
fill (u8,u12, red)
fill (d8,d12, red)