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Indicator · Pine Script v5 · On the chart
Asymmetric Band
This indicator calculates volatility-based envelopes directly on the price chart.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code20
Settings2inputs
LicenceNone stated
Last update3 years ago10 Nov 2022
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Asymmetric Band plots a central exponential moving average of closing prices alongside asymmetric outer bands. The upper band is derived from an EMA of price highs plus a standard deviation offset, while the lower band uses an EMA of lows minus its standard deviation offset. Users can configure the lookback period and the band width multiplier to adjust the envelope width.
- Asymmetric upper and lower band calculations
- High and low exponential moving averages
- Standard deviation volatility offset
- Configurable lookback period and multiplier
Details
Published by
JohnsonHsiao on GitHub
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
Volatility & bands, Moving averages
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| band period | int | 20 | band_p |
| band width | float | 1.5 | band_width |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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