OPEN-SOURCE SCRIPT
Updated multicolor Bollinger Bands (BB <-> KC)
Concept:
After every low volatile phase comes a high volatile phase and after every high volatile phase comes a low volatile phase.
If the Bollinger bands are smaller then the Keltner channel (colored red), the price action is low in volatility… meaning a breakout (colored green) will happen soon.
If Bollinger band is bigger than the Keltner channel = green
If Bollinger band is smaller than the Keltner channel = red
Displaying the Keltner Channel is optional
If multicolor BB is disabled, BB color = blue (default color)
Customise colors to your liking under settings -> style
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To get alerts for all coins
1. visit » tradingview.com/crypto-screener
2. set the filter to »
Bollinger Upper Band (20) below Keltner Channels Upper Band (20)
Bollinger Lower Band (20) above Keltner Channels Lower Bands (20)
3. add your own custom filters, like: exchange, marketcap, etc…
4. choose the timeframe you want
5. enable alerts
After every low volatile phase comes a high volatile phase and after every high volatile phase comes a low volatile phase.
If the Bollinger bands are smaller then the Keltner channel (colored red), the price action is low in volatility… meaning a breakout (colored green) will happen soon.
If Bollinger band is bigger than the Keltner channel = green
If Bollinger band is smaller than the Keltner channel = red
Displaying the Keltner Channel is optional
If multicolor BB is disabled, BB color = blue (default color)
Customise colors to your liking under settings -> style
-----------------------------------
To get alerts for all coins
1. visit » tradingview.com/crypto-screener
2. set the filter to »
Bollinger Upper Band (20) below Keltner Channels Upper Band (20)
Bollinger Lower Band (20) above Keltner Channels Lower Bands (20)
3. add your own custom filters, like: exchange, marketcap, etc…
4. choose the timeframe you want
5. enable alerts
Release Notes
- added Alerts
- added Vix Fix
- changed Multipliers to float (0.1 steps possible now)
- changed default value of Keltner Multiplier to 1.5 AND added comparing the BB width & KC width values into the calculation to make it highly accurate ;)
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.
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.