repo32

Bollinger Band Touch

This script simply colors the background when price hits or exceeds the bollinger bands . Just a nice visual cue.
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//Created by Robert Nance 7/5/15
//This script simply colors the background when price hits or exceeds the bollinger bands
//Works nice if you need a quick cue when you are playing the bounce.
study(shorttitle="BB", title="Bollinger Band Touch", overlay=true)
length = input(20, minval=1)
src = input(close, title="Source")
mult = input(2.0, minval=0.001, maxval=50)
basis = sma(src, length)
dev = mult * stdev(src, length)
upper = basis + dev
lower = basis - dev
plot(basis, color=red)
p1 = plot(upper, color=red)
p2 = plot(lower, color=green)
fill(p1, p2)
toptouch = high >= upper ? red : na
bottouch = low <= lower ? green : na

bgcolor(toptouch, transp=75)
bgcolor(bottouch, transp=75)


snapshot


Very useful tool, thanks for sharing.
+1 Reply
repo32 PRO coondawg71
2 years ago
Nice! I love to see how others use the scripts. Everyone has there own ideas of how to do things.
Reply
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