OPEN-SOURCE SCRIPT
BB-EMA-MA
Wikipedia: Bollinger Bands are a type of statistical chart characterizing the prices and volatility over time of a financial instrument or commodity, using a formulaic method propounded by John Bollinger in the 1980s. Financial traders employ these charts as a methodical tool to inform trading decisions, control automated trading systems, or as a component of technical analysis. Bollinger Bands display a graphical band (the envelope maximum and minimum of moving averages, similar to Keltner or Donchian channels) and volatility (expressed by the width of the envelope) in one two-dimensional chart.
If you set Type = 2 then it will use EMA average for Bollinger bands .
If you set Type = 1 then it will use MA average for Bollinger bands .
Default settings is moving average with period 50
When price move to standard Deviation (std) +2 and std +3 is signal for sell ( selling zone)
When price move to standard Deviation (std) -2 and std -3 is signal for sell ( buying zone)
If you set Type = 2 then it will use EMA average for Bollinger bands .
If you set Type = 1 then it will use MA average for Bollinger bands .
Default settings is moving average with period 50
When price move to standard Deviation (std) +2 and std +3 is signal for sell ( selling zone)
When price move to standard Deviation (std) -2 and std -3 is signal for sell ( buying zone)
Release Notes
Add one more Bollinger Band, change some default settingsOpen-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.
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.
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.