Multi Bollinger Bands eXtra

3 days ago

Multi BBX – Behavior Layer is a multi‑timeframe Bollinger Bands indicator.
It overlays three independent Bollinger Band sets on the chart, each calculated from different timeframes, allowing traders to observe volatility layers simultaneously.

🔹 Timeframes
The indicator supports all standard TradingView resolutions:
10 seconds, 1 minute, 5 minutes, 1 hour, 4 hours, 1 day, 1 week, 1 month.
Intermediate custom resolutions (like 15m, 45m, etc.) can also be selected depending on TradingView’s chart settings.
Each band (BB1, BB2, BB3) can be assigned a different timeframe.

🔹 Bands and Colors
BB1 (default 15m) → plotted in red (upper, middle, lower lines).

BB2 (default 5m) → plotted in orange.

BB3 (default 1m) → plotted in blue.
This color separation ensures clear visual distinction between layers.

🔹 Parameters
Each band has independent settings:

Length (period of moving average).

Basis (SMA or EMA).

Source (close, open, high, low).

Deviation (standard deviation multiplier, default 2.0).

Offset (shift forward/backward).

Wait for close (whether to confirm bar close before updating values).

🔹 Calculation Logic
Bollinger Bands are calculated as:

Middle band = SMA/EMA of selected source.

Upper band = Middle + (StdDev × deviation).

Lower band = Middle – (StdDev × deviation).

The script uses request.security() to fetch values from chosen timeframes, ensuring multi‑layer visualization.

🔹 Use Cases
Short‑term volatility detection (BB3).

Medium‑term trend confirmation (BB2).

Longer‑term price behavior tracking (BB1).

Comparing band overlaps to identify breakout zones or potential reversals.

3 days ago

Release Notes

“Style settings optimized.”