OPEN-SOURCE SCRIPT
Bollinger Bands ForLoop

Bollinger Bands ForLoop
OVERVIEW
BB ForLoop is an improved version of Bollinger Bands it is designed to calculate an array of values 1 or -1 depending if soruce for calculations is above or below basis.
It takes avereage of values over a range of lengths, providing trend signals smothed based on various moving averages in order to get rid of noise.
It offers flexibility with different signal modes and visual customizations.
TYPE OF SIGNALS
-FAST (MA > MA[1] or MA > 0.99)
-SLOW (MA > 0)
-THRESHOLD CROSSING (when cross above/below treshold set independently for both directions)
-FAST THRESHOLD (when there's change in signal by set margin e.g (0.4 -> 0.2) means bearsih when FT is set to 0.1, when MA is > 0.99 it will signal bullish, when MA < -0.99 it will signal bearish)
Generaly Lime color of line indicates Bullish, Fuchsia indicates Bearish.
This colors are not set in stone so you can change them in settings.
-Bullish Trend, line color is lime
-Bearish Trend, line color is fuchsia
Credit
Idea for this script was from one of indicators created by tradingview.com/u/InvestorUnknown/
Warning
Be careful when using this indicator especialy combining DEMA with FT (Fast Treshold).
This indicator can be really noisy depending on the settings, signal mode so it should be used preferably as a part of an strategy not as a stand alone indicator
Remember the lower the timeframe you use the more noise there is.
No single indicator should be used alone when making investment decisions.
OVERVIEW
BB ForLoop is an improved version of Bollinger Bands it is designed to calculate an array of values 1 or -1 depending if soruce for calculations is above or below basis.
It takes avereage of values over a range of lengths, providing trend signals smothed based on various moving averages in order to get rid of noise.
It offers flexibility with different signal modes and visual customizations.
TYPE OF SIGNALS
-FAST (MA > MA[1] or MA > 0.99)
-SLOW (MA > 0)
-THRESHOLD CROSSING (when cross above/below treshold set independently for both directions)
-FAST THRESHOLD (when there's change in signal by set margin e.g (0.4 -> 0.2) means bearsih when FT is set to 0.1, when MA is > 0.99 it will signal bullish, when MA < -0.99 it will signal bearish)
Generaly Lime color of line indicates Bullish, Fuchsia indicates Bearish.
This colors are not set in stone so you can change them in settings.
-Bullish Trend, line color is lime
-Bearish Trend, line color is fuchsia
Credit
Idea for this script was from one of indicators created by tradingview.com/u/InvestorUnknown/
Warning
Be careful when using this indicator especialy combining DEMA with FT (Fast Treshold).
This indicator can be really noisy depending on the settings, signal mode so it should be used preferably as a part of an strategy not as a stand alone indicator
Remember the lower the timeframe you use the more noise there is.
No single indicator should be used alone when making investment decisions.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.