PROTECTED SOURCE SCRIPT
Bollinger Bands and Floor Pivot points
Updated
The Bollinger bands set the standard deviation of the reversal points with smoothing over the specified period. That is, if you want to see the standard deviation of resistance and support on an hourly chart with a smoothing period for one day, then you need to set the period 24 in the settings. In this case, the pivot points always coincide with the chart.
The middle Bollinger band smooths out the pivot point, and the upper and lower bands-the resistance of r1 and the support of s1, respectively.
In the settings, you can set the smoothing of the standard deviation of the resistance and support of r2 and s2 instead of r1 and s1
example for working on the daily timeframe for the XRP/USDT cryptocurrency pair
The middle Bollinger band smooths out the pivot point, and the upper and lower bands-the resistance of r1 and the support of s1, respectively.
In the settings, you can set the smoothing of the standard deviation of the resistance and support of r2 and s2 instead of r1 and s1
example for working on the daily timeframe for the XRP/USDT cryptocurrency pair
Release Notes
The new version of the indicator has a function for selecting the period in automatic and manual mode. The automatic period selection mode sets the optimal (in my opinion) period of the indicator for working at different time intervals.
In manual mode, you can set the required period yourself, depending on your wishes.
The color scheme of the Bollinger bands indicator has also changed slightly
Release Notes
Converted to version 5Release Notes
1) The calculations of the new version of the indicator now use my own modification of the standard deviation and moving averages. 2) Just as in previous versions, you can select the calculation of the standard deviation for the pivot points by checking the box in the parameter "Use the pivot point for BB".
3) The automatic setting of periods for different timeframes has been abolished, since the current modification does not imply any special settings for different time intervals.
4) The middle line of the Bollinger bands, as before, remains support/resistance for the main trend, and the short-term moving one remains support/resistance for the small trend of the traded instrument.
5) The recommended settings are set by default, but no one prevents you from experimenting and selecting the most suitable parameters for your trading strategy.
Success in your trading and remember: any, even the most wonderful indicator, does not guarantee price movement in one direction or another - it only shows the current characteristics of market movements that may change over time!
Release Notes
Уточнил формулу расчёта скользящей средней.
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.