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 v6 · Own pane
Bollinger BandWidth
Plots Bollinger BandWidth, the distance between the upper and lower Bollinger Bands relative to the middle band, in a separate pane.
GitHub stars1on the repository
Pine versionv6current
Lines of code19
Settings5inputs
LicenceNone stated
Last update1 year ago1 Mar 2025
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
Two extra lines track the highest value over a chosen expansion length and the lowest over a contraction length, both 125 bars by default. Length, source and standard deviation multiplier are adjustable. It measures volatility and does not indicate direction.
- Band width as a percentage of the basis
- Highest expansion line
- Lowest contraction line
- Adjustable length and multiplier
Details
Published by
ivansoft on GitHub
Type
Indicator, Pine Script v6
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.
Topics
pinescripttradingvew
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 |
| Highest Expansion Length | int | 125 | expansionLengthInput |
| Lowest Contraction Length | int | 125 | contractionLengthInput |
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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