This indicator plots trade entry and exit signals on the price chart by combining Bollinger Bands with optional filter conditions. It calculates standard Bollinger Bands along with RSI, Aroon, and moving average filters. Reversal signals trigger when price bre
Indicator · Pine Script v5 · On the chart
Bollinger Bands
This indicator calculates standard Bollinger Bands using a simple moving average and standard deviation multiplier.
GitHub stars4on the repository
Pine versionv5runs as is
Lines of code31
Settings5inputs
LicenceNone stated
Last update4 years ago15 Oct 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
Instead of plotting continuous band lines, it evaluates whether the current price trades within a configurable threshold distance of the band boundaries. When the low price is near the lower band within the specified offset, it plots a shape marker below the bar directly on the price chart. Users can adjust the smoothing length, calculation source, multiplier, and proximity threshold.
- Bollinger Bands boundary calculation
- Configurable band proximity detection
- On-chart shape plotting for lower band touches
- Adjustable standard deviation multiplier
Details
Published by
bfoura on GitHub
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
Volatility & bands, Mean reversion
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 |
|---|---|---|---|
| length | int | 20 | length |
| Source | source | close | src |
| StdDev | float | 2.0 | mult |
| Offset | int | 10 | offset |
| Near Offset | int | 20 | near_offset |
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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