Cheat Code Bands

8 dic 2020

These bands are a combination of Fibonacci multiples of standard deviations, combined with specific time-frame moving averages. They are meant to be used similar to a Fibonacci Retracement pull, but with more dynamic and real-time updates on them.

These bands print their next value at the opening mark of a candle, and so will not fake you out.

You can expect to use these bands as support & resistance lines in the market, trading between the 4 different sets (separated via color), and looking for a bounce in the opposite direction if the bands can hold the market.

We oftentimes see price continually fluctuate between the upper-most 3 bands, and the lower-most 3 bands, so looking for a trade in the opposite direction once these bands are being held can be a good idea.

The time frame of the standard deviations, and the moving averages, are different from each-other, and are Fibonacci based as well. Through hours of backtesting, these values seem to hold best, and catch the major pivots in the market nicely.

Use the link below to obtain access to this indicator.

8 dic 2020

Note di rilascio

Renamed the indicator to properly match the script title

20 mag 2021

Note di rilascio

Added the ability to toggle on / off clouds, instead of the bands, as well as change their transparency