by 
This indicator calculates the distribution of close-to-close percentage changes using rate of change on closing prices. It bins percentage changes into intervals of 0.25 percent increments from negative to positive values and plots a normalized cumulative hist
Indicator · Pine Script v5 · Own pane
Bollinger Bands Width
Bollinger Bands Width plots the width of Bollinger Bands on a separate pane.
GitHub stars37on the repository
Pine versionv5runs as is
Lines of code11
Settings3inputs
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
11 lines of Pine Script v5 from Technical-Indicators/Technical Indicators are Here🤩/Bollinger-Bands-Width.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=5
indicator(title="Bollinger Bands Width", shorttitle="BBW", format=format.price, precision=2, 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
bbw = (upper-lower)/basis
plot(bbw, "Bollinger Bands Width", color=#138484)
Overview
Bollinger Bands Width calculates the ratio of the band width using the formula of upper band minus lower band divided by the basis. The main settings let users change the length of the simple moving average and the standard deviation multiplier. This indicator helps visualize volatility shifts in the market. It does not generate buy or sell signals but serves as a tool to identify periods of expanding or contracting volatility.
- Bollinger Bands Width
- Volatility Indicator
- Standard Deviation Bands
- Moving Average
- BBW
Details
Published by
TWODS-CAPITAL on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Volatility & bands
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 |
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.
Similar Pine Scripts
This indicator plots a Supertrend-based trend-following setup in a separate pane and skips conditions it treats as a sideways market. A volatility range is built from an ATR value, with RMA, SMA, EMA, or WMA smoothing, or from a fixed point distance. Optional
This indicator plots candle range and open-to-close movement as percentages in a separate pane. Range is the high-low difference divided by the low, and change is the close-open difference divided by the open. Both series draw as columns. Teal columns show ran
The Mojito v3 Strategy indicator evaluates volatility term structure by calculating the ratio between front-month and second-month VIX futures contracts. It smooths this ratio using a configurable median filter and compares the result against user-defined uppe
Calculates dynamic modeling values by applying a mathematical logistic differential equation to price change over a specified lookback length. It measures price momentum relative to the recent high-low price range. The script plots positive and negative logist
MACD-V is a volatility-normalized momentum indicator based on research by Alex Spiroglou. It calculates the standard MACD histogram and normalizes it by dividing by the Average True Range (ATR). Plotted in a separate pane as a colored histogram, it includes us
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers