[RS]Multiple Bollinger Bands Candles V0

EXPERIMENTAL: using multiple length bollinger bands to create a better reading of ?price/range? strength?.
• calculates 2 candle plots for upper and lower bands, were the high and low are the extremes of the bands,
open is the previous close of the band and close is the extreme midline.
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study(shorttitle="[RS]mBBC V0", title="[RS]Multiple Bollinger Bands Candles V0", overlay=true)
length0 = input(4, minval=1)
length1 = input(8, minval=1)
length2 = input(16, minval=1)
length3 = input(32, minval=1)

src = input(close, title="Source")
mult = input(2.0, minval=0.001, maxval=50)

deviation(_s, _l) => mult * stdev(_s, _l)
base0 = sma(src, length0)
base1 = sma(src, length1)
base2 = sma(src, length2)
base3 = sma(src, length3)

upper0 = base0 + deviation(src, length0)
upper1 = base1 + deviation(src, length1)
upper2 = base2 + deviation(src, length2)
upper3 = base3 + deviation(src, length3)

lower0 = base0 - deviation(src, length0)
lower1 = base1 - deviation(src, length1)
lower2 = base2 - deviation(src, length2)
lower3 = base3 - deviation(src, length3)

mbb_upper_high = max(upper0, max(upper1, max(upper2, upper3)))
mbb_upper_low = min(upper0, min(upper1, min(upper2, upper3)))
mbb_upper_close = max(base0, max(base1, max(base2, base3)))
mbb_lower_high = max(lower0, max(lower1, max(lower2, lower3)))
mbb_lower_low = min(lower0, min(lower1, min(lower2, lower3)))
mbb_lower_close = min(base0, min(base1, min(base2, base3)))

upper_palete = falling(mbb_upper_close, 1)?orange:rising(mbb_upper_close, 1)?olive:silver
lower_palete = falling(mbb_lower_close, 1)?orange:rising(mbb_lower_close, 1)?olive:silver

plotbar(mbb_upper_close[1], mbb_upper_high, mbb_upper_low, mbb_upper_close, color=upper_palete)//, wickcolor=orange)
plotbar(mbb_lower_close[1], mbb_lower_high, mbb_lower_low, mbb_lower_close, color=lower_palete)//, wickcolor=olive)
2 years ago
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