Coloured Bollinger Bands
- インディケータ
- Moegamat Luqmaan Titus
- バージョン: 1.2
- アップデート済み: 17 1月 2025
Coloured Bollinger Bands
The Coloured Bollinger Bands indicator is an enhanced version of the standard Bollinger Bands, offering customizable features to suit your trading needs. It uses the classic Simple Moving Average (SMA) as the middle band, and allows you to easily change the appearance of the bands, including the option to select colors and line types, ensuring better visual clarity and adaptability on your charts.
Key Features:
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Bollinger Bands with SMA:
- The middle band is calculated using a Simple Moving Average (SMA), just like the traditional Bollinger Bands.
- The upper and lower bands are calculated based on the SMA, using the specified period and deviation for standard deviation, forming the familiar volatility channels.
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Customizable Colors for Bands:
- Upper Band: Choose any color for the upper band to match your chart preferences.
- Middle Band (SMA): Change the color of the middle SMA line, allowing you to easily distinguish it from the upper and lower bands.
- Lower Band: Select the color for the lower band to enhance the chart's visual contrast.
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Adjustable Line Styles:
- Select from a variety of line styles for the bands, including:
- Solid Lines: For clear and continuous bands.
- Dashed Lines: For a segmented appearance.
- Dotted Lines: Ideal for a less intrusive look while maintaining visual clarity.
- Select from a variety of line styles for the bands, including:
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Period and Deviation Settings:
- Period: Set the period for the SMA calculation (default is 20).
- Deviation: Adjust the deviation (default is 2) to control the width of the bands based on price volatility.
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User-Friendly Interface:
- Easily modify the band colors, line styles, and other inputs using simple settings.
- Real-time chart updates with each market tick.
How it Helps:
- Volatility Analysis: The Bollinger Bands help measure market volatility, with price action bouncing between the bands indicating overbought or oversold conditions.
- Clear Trend Signals: The bands provide an easy way to spot trend reversals or breakouts. When price reaches the upper band, it may indicate overbought conditions; when price touches the lower band, it could signal oversold conditions.
Compatibility:
- Works on MetaTrader 4 (MT4) and can be used across various timeframes, making it suitable for all types of traders, from scalpers to long-term investors.