Fibline Glance — Indicator by SandroTurriate

This is a set of three indicators combined into one script. The source of the three indicators comes from the tradingview user fibline (). The lines remind me of ichimoku, because at a glance, you can tell what the stock is up to. To me, the orange line does an excellent job of showing support and resistance. I'd be happy to add more to the script if anyone has any ideas.

See one of his charts:

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

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Want to use this script on a chart?

study("Fibline Glance", overlay=true)

emaLength = input(title="EMA length", defval=100)

bbFastLength = input(9)
bbFastDeviation = input(0.1)

bbSlowLength = input(40)
bbSlowDeviation = input(0.4)

bbFastAvg = sma(close, bbFastLength)
bbFastStdev = stdev(close, bbFastLength)
bbFastUpper = bbFastAvg + bbFastDeviation*bbFastStdev
bbFastLower = bbFastAvg - bbFastDeviation*bbFastStdev

p1 = plot(bbFastUpper, color=orange)
p2 = plot(bbFastLower, color=orange)
fill(p1, p2, color=orange, transp=60)

bbSlowAvg = sma(close, bbSlowLength)
bbSlowStdev = stdev(close, bbSlowLength)
bbSlowUpper = bbSlowAvg + bbSlowDeviation*bbSlowStdev
bbSlowLower = bbSlowAvg - bbSlowDeviation*bbSlowStdev

p3 = plot(bbSlowUpper, color=#4985e7)
p4 = plot(bbSlowLower, color=#4985e7)
fill(p3, p4, color=#4985e7, transp=30)

plot(ema(close, emaLength), color=lime)