vdubong — Indicator by vdubus

bollingerbands bands bb pivot movingaverage vdubong vdubus

Custom script I fabricated which I use for Binary Trading on the 1m & 3m charts together with Price action & Time management but the principles are the same for all mediums. Use Price action buy/sell in the clear zones. Use the outer 'pink' horizontal lines (highs / lows / pivots points) to place SL's.
I personally run an additional BB 50/2 for clearer BB higher highs & lower low perspective, but it's not part of the script. Script variables are fully customisable.
I don't take ownership of any part of the script, I not a programmer /script writer just a dabbler. Enjoy :) - VDUBONG UPDATED

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

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.

Want to use this script on a chart?

study(title="vdubong", shorttitle="vdubong", overlay=true)

length1 = input(20, minval=1, title="Upper Channel")
length2 = input(20, minval=1, title="Lower Channel")

upper = highest(length1)
lower = lowest(length2)

basis = avg(upper, lower)

l = plot(lower, style=line, linewidth=1, color=fuchsia, title="lower" )
u = plot(upper, style=line, linewidth=1, color=fuchsia, title="upper")

src = close, len = input(50, minval=1, title="MA")
out = sma(src, len)
plot(out, color=red, linewidth=2, title="MA")

source = close
length = input(20, minval=1), mult = input(1.5, minval=0.001, maxval=400)
dev = mult * stdev(source, length)
BBupper = basis + dev
BBlower = basis - dev
p1 = plot(BBupper, color=blue)
p2 = plot(BBlower, color=blue)
fill(p1, p2)