█ OVERVIEW This is a Bollinger band Script, with Keltner Channel Bands and for scalping.
█ CONCEPTS 1 — Bollinger Bands, The Bollinger band component is make out from two part, the standard component represented by a white cloud. This is the 2nd deviation and 3rd deviation filled. The second part linear weight This is the 2nd deviation, and is filled from the 3rd deviation from the standard bands. This give the effect of cutting in and out to proved a support and resistance cloud.
2 — Keltner bands, this is the normal calculation, nothing special, by default this is off and can be turned back on in styles. 3 Deviations with ALMA as the Basis
3 — Non-traditional basis Like with tradingview.com/script/HA0fEDFK-Moving-Average-Trend/ you can change the base moving average but to a lesser extent. option are: sma = Simple Moving Average ema = Exponential Moving Average wma = Weighted Moving Average vwma = Volume Weighted Moving Average rma = Running Moving Average alma = Arnaud Legoux Moving Average hma = Hull Moving Average
█ OTHER SECTIONS • LIMITATIONS: again this is base on moving average so there is a lag factor, the cloud do not work without volume so if the indicator can not pull volume data you are left with the standard bands. • NOTE this is a trimmed version of tradingview.com/script/RgX7eBrw-Bollinger-bands/ still functions the same. • THANKS: rumpypumpydumpy for the inspiration