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Flat Detect By Bollinger Bands

This simple script indicate the potential flat market zones, calculated based on the Bollinger Bands width .
It's showing the Bollinger Bands in red when the market is detected as flat.

You can adjust the Width Threshold with precision on the inputs settings.

Enjoy :)
Release Notes: Default values was optimized for BTCUSDT pair under 4h TimeFrame.
Play with "StdDev" and "Threshold Width" to get better results depending the pairs and timeframes you using
Release Notes: Update
Release Notes: Alerts Added
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.

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.

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