A little, yet hopefully useful update over my previous "Multi Bollinger Heat Bands". For those who like quick visual cue's.
In short: It's your Basic Bollinger Bands, but 3 of them, and some pointy things.
In full:
Three stacked SMA based Bollinger Bands designed just to give you a quick visual on the "heat" of movement.
Set inner band as you would expect, then set your preferred additional multiplier increments for the outer 2 bands.
Option to use EMA as alternative basis, rather than SMA.
Breakout indication shapes, which have their own multiplier (but still tied to same length/period as the BB's) so you can make them pop on their own separate "band".
This work for any time frame and instrument or only for Forex?
WannaFly
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@pablobar, ofc man. indicators are mathematical formulas not dark magic, they work with anything that has a price
bb`s in particular are based on a standard deviation of a typical price
dablukumardnagar5050
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What is best input or settings for best result?
m99rn
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hey , man this indicator repaint?, or you dont know?
JayRogers
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@m99rn - not entirely sure what it is you are asking?
JayRogers
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After actually taking the time to read up on re-painting / non re-painting.. I believe the correct response is that it can be both. The source - open/close/hl etc. - of the calculations is what will determine if an indicator repaints or not. The sources are all available to customise, therefore you could choose "Open" and it will not repaint due to only being able to pull data from past events, or select "Close" and it would of course keep repainting until the close of the candle.
m99rn
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ok thanks
Trader_KingMars
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A very practical Bollinger Band indicator, thank you for providing him! Are there any plans for an update recently? He can't upgrade and convert to pine v5 format, thank you!