Bollinger Bands + Keltner Channel Refurbished█ Goals
This is an indicator that brings together Bollinger Bands and Keltner's Channels in one thing.
Both are very similar, so I decided to make a merge of the best features I found out there.
Here there is the possibility of choosing one of these two as needed.
In addition, I added the following resources:
1. Pre-Defined intermediate bands with Fibonacci values;
2. Detachment of the bands in which the price was present;
3. Choice of Moving Average:
"Simple", "Exponential", "Regularized Exponential", "Hull", "Arnaud Legoux", "Weighted Moving Average", "Least Squares Moving Average (Linear Regression)", "Volume Weighted Moving Average", "Smoothed Moving Average", "Median", "VWAP");
4. Statistics: bars count within the bands.
█ Concepts
Keltner Channels vs. Bollinger Bands
"These two indicators are quite similar.
Keltner Channels use ATR to calculate the upper and lower bands while Bollinger Bands use standard deviation instead.
The interpretation of the indicators is similar, although since the calculations are different the two indicators may provide slightly different information or trade signals."
(Investopedia)
Bollinger Bands (BB)
"Bollinger Bands (BB) are a widely popular technical analysis instrument created by John Bollinger in the early 1980’s.
Bollinger Bands consist of a band of three lines which are plotted in relation to security prices.
The line in the middle is usually a Simple Moving Average (SMA) set to a period of 20 days (the type of trend line and period can be changed by the trader; however a 20 day moving average is by far the most popular).
The SMA then serves as a base for the Upper and Lower Bands which are used as a way to measure volatility by observing the relationship between the Bands and price.
Typically the Upper and Lower Bands are set to two standard deviations away from the SMA (The Middle Line); however the number of standard deviations can also be adjusted by the trader."
(TradingView)
Keltner Channels (KC)
"The Keltner Channels (KC) indicator is a banded indicator similar to Bollinger Bands and Moving Average Envelopes.
They consist of an Upper Envelope above a Middle Line as well as a Lower Envelope below the Middle Line.
The Middle Line is a moving average of price over a user-defined time period.
Either a simple moving average or an exponential moving average are typically used. The Upper and Lower Envelopes (user defined) are set a range away from the Middle Line.
This can be a multiple of the daily high/low range, or more commonly a multiple of the Average True Range."
(TradingView)
█ Examples
Bollinger Bands with 200 REMA:
Keltner Channel with 200 REMA:
Bollinger Bands with 55 ALMA:
Keltner Channel with 55 ALMA:
Bollinger Bands with 55 Least Squares Moving Average:
█ Thanks
- TradingView (BB, KC, ATR, MA's)
- everget (Regularized Exponential Moving Average)
- TimeFliesBuy ("Triple Bollinger Bands")
- Rashad ("Fibonacci Bollinger Bands")
- Dicargo_Beam ("Is the Bollinger Bands assumption wrong?")
Bollinger_bands
ARKA-Z-ScoreThis Indicator is based on Mr. Dan Valcu ideas.
The author of this article is Veronica Valcu.
The z-score (z) for a data item x measures the distance (in standard deviations StdDev) and direction
of the item from its mean (U):
z = (x-StdDev) / U
A value of zero indicates that the data item x is equal to the mean U, while
positive or negative values show that the data item is above (x>U) or below
(x Values of +2 and -2 show that the data item is two standard deviations
above or below the chosen mean, respectively, and over 95.5% of all data
items are contained within these two horizontal references.
Based on the article and ideas about the z-score concept we can use it to get more confidence where we want to be sure this is an oversold or overbought zone.
The indicator draws two levels on 2 and -2. Z-Score color comes red when it goes above 2, and the color changes to green when it goes below the -2 level. The Z-Score color which value is between 2 & -2 is gray.
Trending Bollinger Bands by SiddWolfBollinger Bands are mostly used for trend reversal. I believe they should be used for Trend Continuation and Trend Confirmation.
In this Trending Bollinger Bands script you will see two bands drawn on chart. The Upper band is suggestive of Uptrend and Lower Band is suggestive of Downtrend Market. It just provides the guidance of where the market is now and where it is headed. It is not to be used as a standalone indicator. Use this to confirm your hypothesis of Uptrend or Downtrend.
Bollinger Bands Trend
When the price crosses the moving average it is interpreted as the price is gonna continue in that direction. But most of the time it is a fake breakout. With this script you get an additional confirmation so that you know it is not a fake breakout and the price have caught the trend.
Bollinger Bands Reversal:
This indicator can also work for reversal. For example when price closes outside the outer bands, it is most likely that the trend is gonna reverse. Don't just enter the trade wait for some other confirmation as reversal trading is more complicated.
Confluence:
Confluence is the key factor for profitable trading. Don't use this indicator as standalone indicator instead combine it with other indicators and price action. Like the divergence occurring when the price is outside the bands is suggestive of trend reversal. I have created a non-delay, non-repaint indicator for finding divergence. I'd soon publish that script. Stay tuned.
Settings is the Key:
Try to play around with the settings. It is a simple yet effective indicator. Change the moving average type or length. I've found moving average RMA or WMA works better than SMA. Find the best setting that works with your setup. Set the Band Source as High/Low to make the outer bands more extreme.
Conclusion:
This is my first script but it isn't my last. I've created quite a few gems that I'm gonna publish soon. If you have any questions or suggestions feel free to comment below. I'd love to connect with you. Thank you.
Compare Crypto Bollinger Bands//This is not financial advice, I am not a financial advisor.
//What are volatility tokens?
//Volatility tokens are ERC-20 tokens that aim to track the implied volatility of crypto markets.
//Volatility tokens get their exposure to an asset’s implied volatility using FTX MOVE contracts.
//There are currently two volatility tokens: BVOL and IBVOL.
//BVOL targets tracking the daily returns of being 1x long the implied volatility of BTC
//IBVOL targets tracking the daily returns of being 1x short the implied volatility of BTC.
/////////////////////////////////////////////////////////////////
CAN USE ON ANY CRYPTO CHART AS BINANCE:BTCUSD is still the most dominant crypto, positive volatility for BTC is positive for all.
/////////////////////////////////////////////////////////////////
//The Code.
//The blue line (ChartLine) is the current chart plotted on in Bollinger
//The red line (BVOLLine) plots the implied volatility of BTC
//The green line (IBVOLLine) plot the inverse implied volatility of BTC
//The orange line (TOTALLine) plots how well the crypto market is performing on the Bolling scale. The higher the number the better.
//There are 2 horizontal lines, 0.40 at the bottom & 0.60 at the top
/////////To Buy
//1. The blue line (ChartLine) must be higher than the green line (IBVOLLine)
//2. The green line (IBVOLLine) must be higher than the red line (BVOLLine)
//3. The red line (BVOLLine) must be less than 0.40 // This also acts as a trendsetter
//4. The orange line (TOTALLine) MUST be greater than the red line. This means that the crypto market is positive.
//5.IF THE BLUE LINE (ChartLine) IS GREATER THAN THE ORANGE LINE (TOTALLine) IT MEANS YOUR CRYPTO IS OUTPERFOMING THE MARKET {good for short term explosive bars}
//6. If the orange line (TOTALLine) is higher than your current chart, say BTCUSD. And BTC is going up to. It just means BTC is going up slowly. it's fine as long as they are moving in the same position.
//5. I use this on the 4hr, 1D, 1W timeframes
///////To Exit
//1.If the blue line (ChartLine) crosses under the green line (IBVOLLine) exit{ works best on 4hr,1D, 1W to avoid fakes}
//2.If the red line crosses over the green line when long. {close positions, or watch positions} It means negative volatility is wining
OGT Bollinger Bands Trend IndicatorWhat Is The OGT Bollinger Bands Trend Indicator?
This indicator is a pullback trend trading indicator which uses the following indicators:
- 200 EMA - Long Term Trend Direction
- 30, 35, 40, 45, 50, 60 EMAs - Shorter Term Trend Direction
- Bollinger Bands - Pullback / Entry Signal
How Are Signals Generated?
Buy
- Price above the 200 EMA
- Price touches lower BB with shorter term EMAs all aligned (not crossed)
- Indicator waits for price to close above midpoint BB with shorter term EMAs all still aligned (not crossed)
Sell
- Price below the 200 EMA
- Price touches upper BB with shorter term EMAs all aligned (not crossed)
- Indicator waits for price to close above midpoint BB with shorter term EMAs all still aligned (not crossed)
Alerts function built in, input settings customisable to show/not show indicators and change colours.
Bollinger Bands Pro : Hawk-Eye (by ImanPJN)Bollinger Bands Pro: Hawk Eye / is a professional version of the Bollinger Band Indicator that uses two bands instead of one. This is the second band I call the upper and lower middle band.
Sometimes you see that the candles are rejected from parts of the band and you do not know the real reason.
The real reason is the middle band, which is a secret line that we show you in Hawk eye and give you a professional and complete view of the trend and momentum of the trend.
This important line gives you the dynamic support and resistance points that were previously hidden from you.
The line also allows traders to pinpoint their entry and exit points, as well as notice that trend strengths or trend momentum are being lost.
Now we want to discuss the trading methods and strategies of this indicator, three main strategies that should be considered, the first is following the trend and the second is breaking the line And third is the Bollinger Bands divergences with the "BB %B" oscillator.
1 - Following the Trend :
You can follow the trend and when a good downtrend or uptrend is formed, enter the trade every time candles hits the middle band and bounces back and you can hold the position it until the middle band or baseline is broken .
2 - Breaking the Line :
When the middle band or baseline as our dynamic trend line is broken with a complete candlestick, we can close the trade or trade the reverse trend, but we recommend that you do not use trend reversal signals if you do not have enough skills.
3 - Bollinger Bands divergences :
We can also use the Bollinger Bands and the BB Percentage Index to find bullish and bullish divergence or overbought and oversold points. But it requires more mastery and research on both indicators
Coded by Iman Pajand in Partnership with @BITEXGroup
(JS) VWAP BandsThis is a pretty simple script here - I took the VWAP and combined it with Bollinger Bands.
The bands can vary a lot based on chart resolution, so I wanted to make sure the resolution could be modified so you can use the resolution you're most comfortable with, or find the most success with.
Length:
Length of bars used to calculate the bands.
Standard Deviation Band 1-3:
There's three bands all together, this option allows you to modify the number of standard deviations per band.
VWAP Period:
This modifies when you want the VWAP to begin (Session, Week, Month, Year).
Offset:
This moves the VWAP and the bands the amount of bars you select, default is of course set to zero.
Source:
This selects the source of calculation, HLC/3 is the default VWAP calculation.
This is a pretty self explanatory script, I thought being able to see the standard deviations of the VWAP could prove to be useful - hope you all like it!
[blackcat] L2 Center Band BollingerLevel: 2
Background
Bollinger bands are a type of price envelope developed by John Bollinger , where price envelopes define upper and lower price ranges. Bollinger Bands are envelopes that are represented with a standard deviation above and below a simple moving average of price. Because the spacing of the bands is based on the standard deviation, they adjust for fluctuations in the volatility of the underlying price.
Function
L2 Center Band Bollinger takes advantage of Bollinger band to detect sideways and trends. At the same time, I made an improvement and the center Bollinger line as a fast-slow-line color band. The algorithm of the color center band is composed of price and volume information, which produces gold cross and dead cross for short term long and short entries.
Key Signal
aa10 --> bollinger middle fast line
aa12 --> bollinger middle slow line
up --> upper envelope
dn --> lower envelope
Pros and Cons
Pros:
1. it can easy see the sections of trends or sideways by width of Bollinger band
2. long and short entries are disclosed
Cons:
1. Some noise is still incorporated in trends
2. due to this is un-optimized version, time frame and trading pairs need to be selected
3. Bollinger re-entry signal is not disclosed yet
Remarks
The long and short signal is compatible to @nilux strategy backtest framework for sandardized backtest scheme: Backtest
Readme
In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts.
The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works.
Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element.
Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level.
Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated.
Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop.
Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.
Bollinger Bands of RSIwith this script you can follow ema8 of RSI and also SMA20 of RSI with ∓ 2 standart deviation
ORTI Bollinger Bands V3 (Static Timeframe Multi-Period)The "ORTI Bollinger Bands V3 (Static Timeframe Multi-Period MA)" is public scrypt, based in a previous study, but with some better functions (“ORTI Bollinger Bands V2 (Static Timeframe Multi-Period MA”).
This is a redesigned and recalculated set of the common plotted lines with the typical two "Standard Deviations" (positively and negatively) away from the original calculation of a "Simple Moving Average" of the security's price.
But now, with the option to convert the "Simple Moving Average" to adapt into 9 different kinds of "Moving Averages", to have a much more robust indicator which in turn would serve both as "Bollinger Bands" and by any of the most used "Moving Averages", a hybrid basically.
The following options to convert the "Simple Moving Average" ( SMA ) to:
• Exponential Moving Average ( EMA )
• Weighted Moving Average ( WMA )
• Arnaud Legoux Moving Average ( ALMA )
• Hull Moving Average ( HMA )
• Volume-weighted Moving Average ( VWMA )
• Least Square Moving Average ( LSMA )
• Smoothed Moving Average ( SMMA )
• Double Exponential Moving Average ( DEMA )
The cherry on the top , for this private version: is when you want to get a predetermined count in "natural temporalities" as minutes, hours or days, in any graph you could get a static average, and this count will be automatically respected. For example, a "Moving Average" could be configurated to know a trend per day, week or month... or whatever comes to mind, and at every single chart that you move through (5m, 15m, 1h, 4h, etc), you will see the same average to make your own "trend analysis" into a micro/macro market view.
As in traditional "Bollinger Bands", the "Standard Deviations" are still a measure of volatility , when markets become more volatile, bands widen, during the less volatile periods, the bands contract.
A common fact in trading is that, prices vary most of the time and there is a lot of truth in this assertion, since the markets consolidate mainly as bullish andbearish . Market trends are sometimes very rare, so trading them may not be as easy as you might think. If we look at prices in this way, we can define the trend as a deviation from the norm (rank).
Usually, most Traders use “Moving Averages” to identify commercial areas and analyze markets. A “Moving Average” helps the Trader isolate the trend a lot and can also indicate when a trend may be receding.
The importance of using any of the “Moving Averages” in the “Bollinger Bands”, becomes a reality and reveals the average price of a marketable instrument in a given period of time. However, there are different ways to calculate the averages, and that is why there are different types of “Moving Averages”. They are called "in motion" because, as the price moves, new data is added to the calculation, thus changing the average.
The base of the “Bollinger Bands” measures and represents the deviation or volatility of the price and this is the reason why they can be very useful to identify a trend. Even the use of two sets of “Bollinger Bands”, one generated with the parameter "one Standard Deviation" and the other with the typical configuration of "two Standard Deviations", can help us to see the price in a different way.
Another great advantage of “Bollinger Bands” is that, they adjust dynamically as volatility increases and decreases. As a result, the “Bollinger Bands” automatically expand and contract in synchronization with the price action, creating an envelope of precise trends.
Note: The previous calculation example is not the default, the parameters can be adjusted according to the criteria of the merchant.
As everyone knows, and as you can find on the internet, the "Moving Averages" are one of the most commonly used technical indicators in Stock, Futures , Forex and Crypto trading. Market analysts and traders, use "Moving Averages" to help identify trends in price fluctuations, smoothing out the noise and short-lived spikes (from news and earnings announcements, for example) for individual securities or indexes.
They are calculated by adding recent closing prices and then dividing that by the number of time periods in the calculation average. A simple, or arithmetic, a "Moving Average" that is calculated by adding the closing price of the security for several time periods and then dividing this total by that same number of periods. Short-term averages respond quickly to changes in the price of the underlying, while long-term averages are slow to react.
There are different types of "Moving Averages", calculated in different ways and over different time periods, which reveal different information for traders. The type of "Moving Average" and measurement period used determine the strategies a trader implements. So, many traders watch for short-term averages to cross above longer-term averages to signal the beginning of an uptrend. Short-term averages can act as levels of support when the price experiences a pullback.
As is usual, traders and market analysts commonly use several periods in creating "Moving Averages" to plot on their charts. For identifying significant, long-term support and resistance levels and overall trends, but they only consider the 50-day, 100-day and 200-day moving averages as the most common. Based on historical statistics, these longer-term moving averages are considered more reliable trend indicators and less susceptible to temporary fluctuations in price.
There is such popular trading patterns that use "Simple Moving Averages" include the “death cross” and a “golden cross”. A “death cross” occurs when the short period "Moving Average" crosses below the long period "Moving Average" and this is considered abearish signal that further losses are in store; the “golden cross” occurs when a short-term "Moving Average" breaks above a long-term moving average, this can signal further gains are in store, that is interpreted as bearish .
The 5-, 10-, 20-, and 50-day moving averages are often used to spot near-term trend changes. Changes in direction by any of these shorter-term "Moving Averages" are watched as possible early clues to longer-term trend changes. Crossovers of the 50-day moving average by either the 10-day or 20-day "Moving Averages" are regarded as significant. The 10-day "Moving Average", plotted on an hourly chart, is frequently used to guide traders in intraday trading.
For more technical information: Investopedia
But why we have to use in our TECHNICAL ANALYSISthe same Moving Averages (10, 20, 30, 50, 100 and 200) for all time frame OHLC charts (1m, 5m, 15m, 1h, 4h, 1d, 1w and 1m)? That does not make any sense.
This is when you must go back to (statistic) basics: reliability and validity are a very important aspects of selecting a survey instrument. Reliability refers to the extent that the instrument yields the same results over multiple trials. Validity refers to the extent that the instrument measures what it was designed to measure.
Content validity measures the extent to which the items that comprise the scale accurately represent or measure the information that is being assessed. Are the real traders answering this question, that are asked representative of the possible data that they are trying to read? Well, I think maybe not.
Such as correlations, to verify the relevance of the “timeframe” questions, we could start at… Operation hours, the first data that has you should find may be is correlated with questions from: Does your trend indicator has a straight relationship of time under your time-analisys examination to determine if validity is present? If the scores are highly correlated, it is called convergent validity, then if convergent validity exists and validity is supported.
Criterion-related validity has to do with how well works the counting from the instrument, as a known outcome they are expected in a real, natural and measurable lapse time. Such as correlations are used to determine if criterion-related validity your counting data, would must be at: minutes, days, weeks, months, etc.
That is when we start with the rhythm, as in music. If your trading day in operation at Forex is made up of 24-hours, during 5-days of the week, there you have your first clue. Now, what did you want and have to measure? Well, first of all you need a daily, weekly and monthly count to begin with all your indicators.
For some reason, there are a lot of questions about time and calendars which all are answered by reference to astrology, because the original purpose of astrology was to create a reliable method of measuring the passage of time, the clock by which we live our lives: 12 Hours. It is very interesting!
Even though there are really 24 hours in a day, but therefore you would think we should have 12-time units in our day, not 24, each of which is twice as long as our current hour. But the only reason we would think like this is because we have forgotten about the way ancient astrology divides the time lapses into smaller units.
And now, the next step is when you should refresh your elementary school classes, those mathematics that I'm pretty sure you so hated: relation of prime numbers, compound numbers, divisible numbers and multiples.
You may think about the relationship that exists between the time period and the operative session, as well as the chart that you are consulting; so then, you must find the ideal configuration of those numbers that are only divisible between themselves and 1, or the numbers that besides being divisible by themselves and the unit and are also divisible by other numbers.
For example: for an hourly chart, if a day is divided into 24-hours in base of the number 12, is because it has a larger number of integer factors: 12/6=2, 12/4=3, 12/3=4, 12/2=6. Son then, all of your other indicators should find this relation.
This is when you must start questioning yourself, if you are really working with an adequate configuration of Moving Averages and Oscillators?
Another example:
• Relative Strength Index (14)
• Stochastic %K (14, 3, 3)
• Commodity Channel Index (20)
• Average Directional Index (14)
• Momentum (10)
• MACD Level (12, 26, 9)
• Stochastic RSI Fast (3, 3, 14, 14)
• Williams Percent Range (14)
• Ultimate Oscillator (7, 14, 28)
(JS) Bollinger Band Momentum Average Trailing StopsA tool I made to use alongside the Bollinger Band Momentum Average - fairly simple to use. It has the same settings as the BBMA so you can match them together.
If you prefer a wider stop than a close on the opposing side of the BBMA, this is for you.
The "stop" is triggered by a close on the other side of the stop line line turns red whenever the stop is triggered.
The calculation is simple:
The stop on the short side it is High - BBMA over the length of time you select to use (20 is default).
On the long side, it is BBMA - Low also over the preferred length of time you select to use.
Note: Just shorten the length to make a tighter stop.
(JS) Bollinger Bands Momentum AverageSo this is something I've been using with my Squeeze system that I have found very useful (great addition especially if you use the Squeeze Arrows).
First thing I'd like to point out is that the default setting (20 SMA) is also the default for the Bollinger Bands basis line, so I recommend using the line set at the default.
First thing you'll notice is that whichever side of the line the candles close on, that basically determines the direction of the arrow for the Squeeze Arrows.
So this is extremely helpful in case momentum shifts after an arrow signal is given, if you see the price shoot to the other side of the line you can use that as a means of protection.
Second, the line is color coded in a way that I hope helps with entries and exits.
The colors of the line change based on two things:
1. If there is currently a squeeze.
2. Are the Bollinger Bands expanding or contracting.
Generally speaking, when the bands are contracting (light green and light orange default colors) this is the ideal time for entry before a trending move occurs.
Same thing on the flip side when they're expanding (dark green and dark orange default colors), that's usually the better time to exit.
Now what's the difference between orange and green?
Green = There's an ongoing squeeze
Orange = There's currently no squeeze
So playing the side of momentum when the line is light green and starts to break in a certain direction would be the ideal entry.
And, if momentum changes from that point, you can always use a close on the opposite side of the line as a stop (or an entry the other way).
This is something else I've been using on my own for a little while prior to publishing and it has been a tremendous tool for me. Hope it helps you all as much as it has me!
TDI RSX JMATDI based on RSX and JMA from Jurik.
Green dot = Rsx cross JMA below 50--> Long
Blue dot = JMA cross Mid Band --> Long
Red dot = Rsx cross JMA above 50 -->Short
Orange dot =JMA cross Mid Band --> Short
Bollinger Bands Outside ReversalNot the most accurate indicator, but if combined with some others, it could help you.
BUY Conditions (green):
1. Blue candlestick closes above Bollinger Bands
2. Red candlestick opens outside Bollinger Bands
SELL Conditions (red):
1. Red candlestick closes below Bollinger Bands
2. Blue candlestick opens outside Bollinger Bands
Please always remember, there is no holy grail indicator!
