This overlay indicator plots a Supertrend from an ATR length and factor, four exponential moving averages, and a selectable VWAP or TWAP taken from a chosen timeframe on the price chart. It also shows MACD and stochastic with adjustable lengths, smoothing, ver
Indicator · Pine Script v4 · On the chart
Mean Absolute Deviation Bands
Mean Absolute Deviation Bands is a volatility indicator that plots bands around a moving average basis line calculated from a user-selected source.
GitHub stars948on the repository
Pine versionv4older, still runs
Lines of code18
Settings3inputs
LicenceGPL-3.0
Last update10 days ago18 Oct 2026
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
18 lines of Pine Script v4 from bands_and_channels/mean_absolute_deviation_bands.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
//@version=4
// Copyright (c) 2020-present, Alex Orekhov (everget)
// Mean Absolute Deviation Bands script may be freely distributed under the terms of the GPL-3.0 license.
study("Mean Absolute Deviation Bands", shorttitle="MADB", overlay=true)
length = input(title="Length", defval=20, minval=2)
mult = input(title="Bands Multiplier", defval=2.0, type=input.float, step=0.1)
src = input(title="Source", defval=close)
basis = sma(src, length)
dev = mult * dev(src, length)
upper = basis + dev
lower = basis - dev
plot(basis, title="Basis", color=#351c75, transp=0)
upperPlot = plot(upper, title="Upper", color=#45818e, transp=0)
lowerPlot = plot(lower, title="Lower", color=#45818e, transp=0)
fill(upperPlot, lowerPlot, title="MADB Background", color=color.new(#ffd966, 84))
Overview
Mean Absolute Deviation Bands draws upper and lower bands using a multiplier on the mean absolute deviation, with the background between them filled. The length setting adjusts the period of the moving average, and the multiplier changes the band width. The indicator is plotted directly on the price chart.
- Mean Absolute Deviation Bands
- Volatility Bands
- Moving Average Bands
- Price Chart Overlay
- Upper Lower Bands
Details
Published by
everget on GitHub
Type
Indicator, Pine Script v4
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.
Repository
Topics
pinepinescripttechnical-indicatorsindicatorsoscillatorbandsaveragetradingviewindicatormoving-average
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 |
| Bands Multiplier | float | 2.0 | mult |
| Source | source | close | src |
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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