Calculates and plots moving averages on selected VIX volatility terms (VIX9D, VIX, VIX3M, or VIX6M) in a separate pane. The script computes user-defined short and long moving averages using EMA or SMA. It shades the background red when the short-term moving av
Indicator · Pine Script v5 · Own pane
Bollinger Bands
This indicator plots Bollinger Bands volatility bands calculated from the input source price.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code27
Settings6inputs
LicenceNone statedfile: MPL-2.0
Last update1 year ago17 Jan 2025
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
27 lines of Pine Script v5 from PineScript/Ind_Boll_Volatility.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
// This Pine Script™ code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © rhapsodyz
//@version=5
indicator(shorttitle="Boll", title="Bollinger Bands", overlay=false, timeframe="", timeframe_gaps=true)
// Use 21 as the period length. Classic is 20.
// Use EMA as the moving average. Classic is SMA.
// Use hlc3 as the source price. Classic is Close.
length = input.int(21, minval=1, title = "Boll Length", group = "Boll Settings")
mult = input.float(2.0, minval=0.001, maxval=50, title="StdDev", group = "Boll Settings")
src = input.source(hlc3, "Boll Source", group="Boll Settings")
slowLength = input.int(14, minval = 1, title = "EMA Slow Length", group = "EMA Settings")
fastLength = input.int(49, minval = 1, title = "EMA Fast Length", group = "EMA Settings")
basis = ta.ema(src, length)
dev = mult * ta.stdev(src, length)
upper = basis + dev
lower = basis - dev
offset = input.int(0, "Offset", minval = -500, maxval = 500)
devSlowEMA = ta.ema(dev, slowLength)
devFastEMA = ta.ema(dev, fastLength)
plot(dev, "Dev", color=#FF6D00, offset = offset)
p1 = plot(devSlowEMA, "DevSlow", color=#2962FF, offset = offset)
p2 = plot(devFastEMA, "DevFast", color=#2962FF, offset = offset)
//fill(p1, p2, title = "Background", color=color.rgb(33, 150, 243, 95))
Overview
The middle band uses an EMA of the source over the specified length, with bands formed by adding and subtracting the standard deviation multiplied by the mult. It also draws two EMAs of the deviation line, slow and fast. Plots are in a separate pane. The bands indicate volatility levels in the market. Customizable settings include Bollinger length, multiplier, source, and EMA periods for deviation. Focused on cryptocurrency analysis for Bitcoin and Ethereum.
- Bollinger Bands
- Volatility Bands
- Deviation EMA
- Price Volatility
- Crypto Indicator
Details
Published by
zhuzp98 on GitHub
Code credit
rhapsodyz, as written in the script's header
Type
Draws
Separate pane below the chart
Category
Markets
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 |
|---|---|---|---|
| Boll Length | int | 21 | length |
| StdDev | float | 2.0 | mult |
| Boll Source | source | hlc3 | src |
| EMA Slow Length | int | 14 | slowLength |
| EMA Fast Length | int | 49 | fastLength |
| 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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