OPEN-SOURCE SCRIPT
Slim Ribbon Volume Bars
The Slim Ribbon Volume Bars indicator is intended to be paired with the Slim Ribbon. The Slim Ribbon is also available for free in TradingView. The Slim Ribbon Volume Bars indicator changes the color of the volume bars based on the momentum condition of the Slim Ribbon. When the Ribbons have a bullish condition, the indicator colors the volume bars green. When the Ribbons have a bearish condition, the indicator colors the volume bars red. Finally, when the Ribbons have a neutral condition, the indicator colors the volume bars gray. See below for an overview of the Slim Ribbon.
The Slim Ribbon was developed by Steve Miller. Steve Miller is a 46-year veteran stock, futures and options trader. His badge on the trading floor was his initials, “SLM” and has since gone by the nickname Slim.
The Slim Ribbon is a momentum indicator . It is composed of 3 exponential moving averages (8, 13 and 21). A bullish condition occurs when the 8 period MA is above the 13 period MA and the 13 period MA is above the 21 period MA. A bearish condition occurs when the 8 period MA is below the 13 period MA and the 13 period MA is below the 21 period MA. A neutral condition occurs when the Ribbons are not in alignment.
The Slim Ribbon also notifies you when we transition from one condition to another. A green up arrow indicates that the Slim Ribbon has shifted from a neutral condition to a bullish condition. A red down arrow indicates that the Slim Ribbon has shifted from a neutral condition to a bearish condition. A blue up arrow indicates that we have shifted from a bearish condition to a neutral condition. Lastly, a blue down arrow indicates that we have shifted from a bullish condition to a neutral condition.
We would recommend using the Slim Ribbon on a candlestick chart. Steve Miller believes in the importance of visualizing trends. As a result, we have designed the Slim Ribbon to change the color of the candlesticks based on the condition of the ribbon. When the Slim Ribbon has a bullish condition, the candlesticks will turn green. When the Slim Ribbon has a bearish condition, the candlesticks will turn red. When the Slim Ribbon has a neutral condition, the candlesticks will turn gray.
The Slim Ribbon was developed by Steve Miller. Steve Miller is a 46-year veteran stock, futures and options trader. His badge on the trading floor was his initials, “SLM” and has since gone by the nickname Slim.
The Slim Ribbon is a momentum indicator . It is composed of 3 exponential moving averages (8, 13 and 21). A bullish condition occurs when the 8 period MA is above the 13 period MA and the 13 period MA is above the 21 period MA. A bearish condition occurs when the 8 period MA is below the 13 period MA and the 13 period MA is below the 21 period MA. A neutral condition occurs when the Ribbons are not in alignment.
The Slim Ribbon also notifies you when we transition from one condition to another. A green up arrow indicates that the Slim Ribbon has shifted from a neutral condition to a bullish condition. A red down arrow indicates that the Slim Ribbon has shifted from a neutral condition to a bearish condition. A blue up arrow indicates that we have shifted from a bearish condition to a neutral condition. Lastly, a blue down arrow indicates that we have shifted from a bullish condition to a neutral condition.
We would recommend using the Slim Ribbon on a candlestick chart. Steve Miller believes in the importance of visualizing trends. As a result, we have designed the Slim Ribbon to change the color of the candlesticks based on the condition of the ribbon. When the Slim Ribbon has a bullish condition, the candlesticks will turn green. When the Slim Ribbon has a bearish condition, the candlesticks will turn red. When the Slim Ribbon has a neutral condition, the candlesticks will turn gray.
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