OPEN-SOURCE SCRIPT

Bollinger bands and Keltner bands


█ OVERVIEW
This is a Bollinger band Script, with Keltner Channel Bands and for scalping.


█ CONCEPTS
1 — Bollinger Bands, The Bollinger band component is make out from two part, the standard component represented by a white cloud.
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This is the 2nd deviation and 3rd deviation filled.
The second part linear weight
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This is the 2nd deviation, and is filled from the 3rd deviation from the standard bands. This give the effect of cutting in and out to proved a support and resistance cloud.

2 — Keltner bands, this is the normal calculation, nothing special, by default this is off and can be turned back on in styles.
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3 Deviations with ALMA as the Basis

3 — Non-traditional basis
Like with
Moving Average Trend
you can change the base moving average
but to a lesser extent.
option are:
sma = Simple Moving Average
ema = Exponential Moving Average
wma = Weighted Moving Average
vwma = Volume Weighted Moving Average
rma = Running Moving Average
alma = Arnaud Legoux Moving Average
hma = Hull Moving Average


█ OTHER SECTIONS
 • LIMITATIONS: again this is base on moving average so there is a lag factor, the cloud do not work without volume so if the indicator can not pull volume data you are left with the standard bands.
 • NOTE this is a trimmed version of
Bollinger bands Pro
still functions the same.
 • THANKS: rumpypumpydumpy for the inspiration
Bollinger Bands (BB)Keltner Channels (KC)

Skrip open-source

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