rustygeeart

(Custom)Bollingers Bands Fibonacci ratios

This is a modified Bollinger bands that uses EMA,with ATH to get a main average and then takes Standard Deviations by Fib ratios outwards. It is very useful for Entries and exits. I Typically use it to exit longs or shorts, entries are a bit harder. Generally the price will wick just barely or briefly into the end of one of the bands and then leave, it PINGs it and that is your exit. It is a little hard to predict in real time and set a Take profit at any exact point because it is always moving, but because it constantly adjust it is pretty damn accurate at nailing it. They sorta work at any timeframe, so its up to you, though for Crypto it doesnt do so well above 4hr because it can pump really hard or dump hard and super stretch the bands. Best numbers for the Average are Fib numbers. Stick to using 13, 21, and 34. 34 is my favorite and works best for me, But its up to you. Sometimes its benificial to use 34 on lower timeframes and maybe a smaller number on larger ones IE 21 or 2 or 4hr charts.

Once again it is up to you how to use it. I dont have credit for the original version of it. It is someone else's who I think modified another person's version lol. Ill try and find their name and post a comment though for who I took the original code from.
Script de código abierto

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¿Quiere utilizar este script en un gráfico?