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Indicator · Pine Script v5 · On the chart
Bollinger Bands
This indicator calculates and plots standard Bollinger Bands directly on the price chart.
GitHub stars37on the repository
Pine versionv5runs as is
Lines of code14
Settings4inputs
LicenceMIT
Last update3 years ago10 Feb 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
14 lines of Pine Script v5 from Technical-Indicators/Technical Indicators are Here🤩/Bollinger-Bands.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=5
indicator(shorttitle="BB", title="Bollinger Bands", overlay=true, timeframe="", timeframe_gaps=true)
length = input.int(20, minval=1)
src = input(close, title="Source")
mult = input.float(2.0, minval=0.001, maxval=50, title="StdDev")
basis = ta.sma(src, length)
dev = mult * ta.stdev(src, length)
upper = basis + dev
lower = basis - dev
offset = input.int(0, "Offset", minval = -500, maxval = 500)
plot(basis, "Basis", color=#FF6D00, offset = offset)
p1 = plot(upper, "Upper", color=#2962FF, offset = offset)
p2 = plot(lower, "Lower", color=#2962FF, offset = offset)
fill(p1, p2, title = "Background", color=color.rgb(33, 150, 243, 95))
Overview
Bollinger Bands computes a central basis line using a simple moving average of the selected price source over a user-defined period. Upper and lower bands are constructed by adding and subtracting a standard deviation multiple from the basis line. The area between the bands is filled with a shaded background. Inputs allow adjustments to the moving average length, multiplier, source price, and horizontal offset.
- Simple moving average basis line calculation
- Upper and lower standard deviation bands
- Shaded background fill between outer bands
- Customizable period length and multiplier
- Configurable horizontal plot offset
Details
Published by
TWODS-CAPITAL 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 |
|---|---|---|---|
| length | int | 20 | length |
| Source | source | close | src |
| StdDev | float | 2.0 | mult |
| Offset | int | 0 | 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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