1Copy the scriptPress Copy script above, or the copy button on the code below.
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
66 lines of Pine Script v4 from pine-scripts/bbw-study.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
BBW RSI 15 Study plots standard-deviation-adjusted Bollinger Bands directly on the price chart while calculating secondary metrics such as Stochastic RSI, volume moving averages, and Bollinger Band Width. The script triggers custom alert conditions with JSON payloads when low volatility squeeze conditions coincide with above-average volume, as well as exits on upper band breakouts or high-volatility middle band crossunders.
Bollinger Bands overlay with custom period and multiplier
Bollinger Band Width squeeze detection combined with volume filtering
JSON payload alert conditions designed for webhook integration
Configurable Stochastic RSI and volume moving average calculations
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
RSI Source
source
close
source
Sell
int
75
sell
Buy
int
25
buy
Length
int
14
length
showMA
bool
true
showMA
Color bars based on previous close
bool
false
barColorsOnPrevClose
smoothK
int
3
smoothK
smoothD
int
3
smoothD
lengthRSI
int
14
lengthRSI
lengthStoch
int
14
lengthStoch
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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