Bollinger Band Ribbon R1.0 by JustUncleL

This study is a Bollinger Band indicator that shows the fractional stddev levels between the main bands. You can choose upto 6 Stddev Main Levels (ie 6*StdDev), with 0,1,3,4, or 9 fractional levels.

Other options available are:

Use different MA types for Basis of Bollinger: SMA, EMA, WMA and VWMA are good choices.
Show previous days closing price.
Show Previous days High and Low prices.
Use Keltner Channel in place of Bollinger.

Release Notes

Revision 2.0 - KC orientated changes.
These channel options were requested. The options are similar to my other Channel indicators like "MA Ribbon", the changes are:

Added Option to display coloured candles based on BB/KC last channel line breakout conditions.
Added Option to display only the Last Band when no SubLevels selected.
Added Option to use Anchor Time Frame to emulate Higher Time frame results, on the current chart.
Change some default colours.

This in depth analysis of GBPJPY over the last few days may help with how this indicator could be used:

Release Notes

... Minor updates

Added optional ATR smoothing for KC style channels
Added SWMA type moving average.

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

JustUncleL

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.

Open-source script

JustUncleL