[JR] Multi Bollinger Heat Bands
Bollinger Bands, with incremented additional outer bands.
Set as you would normally, but with the addition of an incremental value for the added outer bands.
Defaults with Length 20, base multiplier of 2.0, and an Increment value of 0.5 for additional outer bands at 2.5 and 3.0. Adjust values to suite your needs.
All lines and zones have colour and formatting options available - because why not eh?
Set as you would normally, but with the addition of an incremental value for the added outer bands.
Defaults with Length 20, base multiplier of 2.0, and an Increment value of 0.5 for additional outer bands at 2.5 and 3.0. Adjust values to suite your needs.
All lines and zones have colour and formatting options available - because why not eh?
Comment:
New iteration of this script here:
// @version=1 // Title: "Multi Bollinger Heat Bands". // Author: JayRogers // Reason: Because tweaking multiple bollingers for different time frames was annoying me. study(shorttitle="[JR]MBHB", title="[JR] Multi Bollinger Heat Bands", overlay=true) // Inputs length = input(20, minval=1) src = input(close, title="Source") base_mult = input(2.0, title="Base Multiplier", minval=0.001, maxval=50) mult_inc = input(0.5, title="Multiplier Increment", minval=0.001, maxval=2) basis = sma(src, length) // base bands dev_0 = base_mult * stdev(src, length) upper_0 = basis + dev_0 lower_0 = basis - dev_0 // middle bands 1 dev_1 = (base_mult + mult_inc) * stdev(src, length) upper_1 = basis + dev_1 lower_1 = basis - dev_1 // outer bands 2 dev_2 = (base_mult + (mult_inc * 2)) * stdev(src, length) upper_2 = basis + dev_2 lower_2 = basis - dev_2 // plot basis plot(basis, title="Basis Line", color=navy, transp=50) // plot and fill upper bands ubi = plot(upper_0, title="Upper Band Inner", color=red, transp=90) ubm = plot(upper_1, title="Upper Band Middle", color=red, transp=85) ubo = plot(upper_2, title="Upper Band Outer", color=red, transp=80) fill(ubi, ubm, title="Upper Bands Inner Fill", color=red, transp=90) fill(ubm, ubo, title="Upper Bands Outer Fill",color=red, transp=80) // plot and fill lower bands lbi = plot(lower_0, title="Lower Band Inner", color=green, transp=90) lbm = plot(lower_1, title="Lower Band Middle", color=green, transp=85) lbo = plot(lower_2, title="Lower Band Outer", color=green, transp=80) fill(lbi, lbm, title="Lower Bands Inner Fill", color=green, transp=90) fill(lbm, lbo, title="Lower Bands Outer Fill", color=green, transp=80) // center channel fill fill(ubi, lbi, title="Center Channel Fill", color=silver, transp=100)