OPEN-SOURCE SCRIPT
Updated Bollinger Bands ±1σ/±2σ/±3σ
Bollinger Bands (BB) are constructed using the following formula:
±1σ: Simple Moving Average (SMA) ± Standard Deviation
±2σ: Simple Moving Average ± (Standard Deviation × 2)
±3σ: Simple Moving Average ± (Standard Deviation × 3)
The probability of price movement staying within each band is as follows:
±1σ: 68.26%
±2σ: 95.44%
±3σ: 99.74%
±1σ: Simple Moving Average (SMA) ± Standard Deviation
±2σ: Simple Moving Average ± (Standard Deviation × 2)
±3σ: Simple Moving Average ± (Standard Deviation × 3)
The probability of price movement staying within each band is as follows:
±1σ: 68.26%
±2σ: 95.44%
±3σ: 99.74%
Release Notes
Bollinger Bands (BB) are constructed using the following formula:±1σ: Simple Moving Average (SMA) ± Standard Deviation
±1.5σ: Simple Moving Average ± (Standard Deviation × 1.5)
±2σ: Simple Moving Average ± (Standard Deviation × 2)
±2.5σ: Simple Moving Average ± (Standard Deviation × 2.5)
±3σ: Simple Moving Average ± (Standard Deviation × 3)
The probability of price movement staying within each band is as follows:
±1σ: 68.26%
±2σ: 95.44%
±3σ: 99.74%
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 publication is governed by House rules. You can favorite it to use it on a chart.
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