This displays a background color according to the position of the closing price on the Standard Deviation band
Blue for upper bands, Orange for lower bands
Bold color for oversold/overbought conditions
This study can be used as a standalone bar or it can be merged with other indicators or used as a chart background. The parameters it requires are simple, the length of the study, the multiplier and the kind of input, by default the closing price.
Blue for upper bands, Orange for lower bands
Bold color for oversold/overbought conditions
This study can be used as a standalone bar or it can be merged with other indicators or used as a chart background. The parameters it requires are simple, the length of the study, the multiplier and the kind of input, by default the closing price.
Release Notes:
This is an updated version of the Bollinger Band Background script recompiled for pinescript 3.0
