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 Fibonacci Ratios
An overlay indicator that draws Bollinger-style bands around a 20-period simple moving average using four standard deviation multipliers based on Fibonacci ratios: 2, 2.618, 3.618 and 4.618 by default.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code32
Settings7inputs
LicenceGPL-3.0
Last update3 years ago24 Oct 2023
Add It to Your TradingView Chart
- 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
32 lines of Pine Script v5 from bb_fibonacci.pinescript, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
//@version=5
indicator("Bollingers Bands Fibonacci ratios 4 lines",shorttitle="FiBB4",overlay=true, timeframe="", timeframe_gaps=true)
length=input.int(defval=20,minval=1)
src = input(close, title="Source")
offset = input.int(0, "Offset", minval = -500, maxval = 500)
mult = array.new_float(4)
dev = array.new_float(4)
upper = array.new_float(4)
lower = array.new_float(4)
basis = ta.sma(src,length)
array.set(mult, 0, input.float( 2.0, minval=0.001, maxval=50, title="StdDev1"))
array.set(mult, 1, input.float( 2.618, minval=0.001, maxval=50, title="StdDev2"))
array.set(mult, 2, input.float( 3.618, minval=0.001, maxval=50, title="StdDev3"))
array.set(mult, 3, input.float( 4.618, minval=0.001, maxval=50, title="StdDev4"))
dev_base = ta.stdev(src, length)
for it = 0 to 3
array.set(dev, it, array.get(mult, it) * dev_base)
array.set(upper, it, basis + array.get(dev, it))
array.set(lower, it, basis - array.get(dev, it))
plot(basis, "Basis", color=#FF6D00, offset = offset, display=display.none)
plot(array.get(upper, 3), "upperEX", color=color.rgb(255, 0, 0), offset = offset, style=plot.style_circles)
plot(array.get(upper, 2), "upper3", color=#ff3535, offset = offset)
plot(array.get(upper, 1), "upper2", color=#ff3535, offset = offset)
plot(array.get(upper, 0), "upper", color=#ff3535, offset = offset)
plot(array.get(lower, 0), "lower", color=#7ee57e, offset = offset)
plot(array.get(lower, 1), "lower2", color=#7ee57e, offset = offset)
plot(array.get(lower, 2), "lower3", color=#7ee57e, offset = offset)
plot(array.get(lower, 3), "lowerEX", color=color.rgb(0, 255, 0), offset = offset, style=plot.style_circles)
Overview
Upper bands are red and lower bands green, and the outermost pair is drawn as circles. The basis line is hidden by default. Source, length, offset and each multiplier are adjustable. It gives no entry or exit signals.
- Four Fibonacci-ratio deviation bands
- Upper and lower bands with colour coding
- Adjustable length, source and offset
- Outermost bands drawn as circles
Details
Published by
xerrni 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.
Repository
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 |
| Offset | int | 0 | offset |
| StdDev1 | float | 2.0 | StdDev1 |
| StdDev2 | float | 2.618 | StdDev2 |
| StdDev3 | float | 3.618 | StdDev3 |
| StdDev4 | float | 4.618 | StdDev4 |
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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