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
Fibonacci Bollinger Bands calculates a center basis line using a simple, exponential, or weighted moving average, and computes upper and lower bands from standard deviation. Within and beyond the standard volatility channel, it plots four internal retracement lines and four external extension lines. Users can customize the moving average type, length, standard deviation length, multiplier, and each Fibonacci ratio value. The script generates visual channel levels without execution signals.
Selectable basis moving average type (SMA, EMA, WMA)
Four configurable internal Fibonacci retracement levels
Four configurable external Fibonacci extension levels
Independent basis and standard deviation length inputs
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Basis Len
int
100
length_basis
Stdev Len
int
100
length_stdev
Source
source
close
src
MA Type
string
SMA
typebb
StdDev
float
2.0
mult
Offset
int
0
offset
1
float
0.786
fib_in_1
2
float
0.618
fib_in_2
3
float
0.382
fib_in_3
4
float
0.236
fib_in_4
1
float
1.618
fib_ex_1
2
float
1.272
fib_ex_2
Show all 14 settings
Setting
Type
Default
Variable
3
float
-0.272
fib_ex_3
4
float
-0.618
fib_ex_4
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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