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MisterMoTA

Logarithmic Bollinger Bands [MisterMoTA]

MisterMoTA  
Bands and Channels Bollinger Bands (BB)
37
0
bandsandchannels bollingerbands
The script plot the normal top and bottom Bollinger Bands and from them and SMA 20 it finds fibonacci logarithmic levels where price can find temporary support/resistance.

To get the best results need to change the standard deviation to your simbol value, like current for BTC the Standards Deviation is 2.61, current Standard Deviation for ETH is 2.55.. etc.. find the right current standard deviation of your simbol with a search online.

The lines ploted by indicators are:
  • Main line is a 20 SMA
  • 2 retracement Logarithmic Fibonacci 0.382 levels above and bellow 20 sma
  • 2 retracement Logarithmic Fibonacci 0.618 levels above and bellow 20 sma
  • Top and Bottom Bollindger bands (ticker than the rest of the lines)
  • 2 expansion Logarithmic Fibonacci 0.382 levels above Top BB and bellow Bottom BB
  • 2 expansion Logarithmic Fibonacci 0.618 levels above Top BB and bellow Bottom BB
  • 2 expansion Logarithmic Fibonacci level 1 above Top BB and bellow Bottom BB
  • 2 expansion Logarithmic Fibonacci 1.618 levels above Top BB and bellow Bottom BB

Let me know If you find the indicator useful or PM if you need any custom changes to it.
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.

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