OPEN-SOURCE SCRIPT

Flat Detect By Bollinger Bands

Updated

This simple script indicate the potential flat market zones, calculated based on the Bollinger Bands width.
It's showing the Bollinger Bands in red when the market is detected as flat.

You can adjust the Width Threshold with precision on the inputs settings.

Enjoy :)

Release Notes

Default values was optimized for BTCUSDT pair under 4h TimeFrame.
Play with "StdDev" and "Threshold Width" to get better results depending the pairs and timeframes you using

Release Notes

Update

Release Notes

Alerts Added

Release Notes

- Alerts take now the ATR filter option in consideration:
Before this update, the alerts was only take in consideration the Bollinger Bands filter and not the ATR Filter.
Now it's take ATR filter option in consideration

- You can now choose the Bollinger Bands Width Threshold in %:
To do it, select the "Threshold Type" to "%". it will use the "Threshold Width in %" value.
You still be able to use the old version by select the "Threshold Type" to "Ticks". it will use the "Threshold Width in Ticks (Old version)" value.

REMARK:
If you use alerts on this indicator, always setup your alerts trigger to "Once Per Bar Close" to avoid false signals.

ENJOY !!!

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 publication is governed by House rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

Eff_Hash

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.