Bollinger Bands color V1.1 — Indicator by NomadandTrader

bollingerbandstrategy bollingerbands color colored green red zone trade trend

Bollinger Bands color V1.1

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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Want to use this script on a chart?

//Crée par J.Dow
//Bollinger Band Color
//Version V1.1
study(shorttitle="BB color V1.1", title="Bollinger Bands color V1.1", overlay=true)

length = input(defval=50, minval=1, title ="MA - Simple")
src = input(defval=close, title="Source")
len = input(defval=2, minval=1, title="MA - Exponantial")
mult = input(defval=2.0, minval=0.001, maxval=50)
//pr = input(defval=true, type=bool, title="Price Color" )

//Bollinger Bands
basis = sma(src, length)
dev = mult * stdev(src, length)
upper = basis + dev
lower = basis - dev

price = ema(src, len)
linecolor = price >= basis ? green : red


//Affichage

plot(basis, color=red, transp=75, title="Moving Average")
p1 = plot(upper, color=linecolor, transp=35, title="high band")
p2 = plot(lower, color=linecolor, transp=35, title="Low band")
fill(p1, p2, color=linecolor, transp=95, title="background")