This indicator creates moving averages based on Fibonacci numbers (3-233, divided by 10 to average) sourced by high, low, and ohlc4 and plots lines based on these three. The Fib MA High line is either green or red (Fib High < Close), the Fib MA Low line is either lime or orange (Fib Low < Close), and the Fib MA OHLC4 line is constantly white. A cluster or series of Bollinger Bands is then created using the Fib MA OHLC4 line as the basis. Fibonacci-based deviations (1, 2, 3, 5, 8) are then used to create three upper and three lower Bollinger lines.
Hi LeafAlgo I've been trading on and off for 7 yrs -{{ you have saved me from despair }] these band have qualities that are unique Thanks for this Indicator -I use it a lot differently than i guess others would use it -Just saying thanks for your effort and kindness for making it open source to us all