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Mayer Multiple BTC - SD

Expands on my previous work.

(Please note - the formatting may get messed up if you apply the script for some reason. Click the indicator, hit "format", and remove the extraneous blue line if that happens).
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Comments

Fun and interesting adding indicators to indicators. I have done, yet to publish a mod when I have bollingers I throw in a Keltner channel same period, basis and true range multiple equal to the BB (or in this case either of them, as long as match result the same) dev. I do not display the KC or basis I just use it to determine squeeze and change the color of the BB basis plot (your pmma above) for squeeze on (I use black) or off (I use lime) - squeeze on is (BB upper < KC upper) AND (BB lower > KC lower) in other words the BB is inside of the KC. Squeeze off is BB outside KC. Should have coded it, easier than describing! pmmacolor = squeeze on condition ? black : lime One of my more used in trading indics has a skinny BB with this, the BB acts like a fat 13 sma (default) and gives me a little more idea of volatility. https://www.tradingview.com/chart/OsBXckpZ/
+1 Reply
Need to remove plot(close), that was a mistake
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