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Bollinger at Fibonacci levels with signals
The indicator uses the values of the standard iBands indicator as the source data.
Bollinger Bands are constructed based on extended Fibonacci levels. The number of standard deviations given in the initial data is used as the basis for the calculation of levels.
In addition, selecting an appropriate Fibonacci level, the indicator will show the buy area (blue) and sell area (red). Signals are generated after an appropriate Fibonacci level is broken, and are displayed on the indicator's middle line ( "Trend line").
Indicator input parameters
- BB_period - moving average period (from 10 to 200);
- BB_deviation - the number of standard deviations (from 1.0 to 20.0);
- BB_applied_price - price type;
- BB_bands_shift - shift;
- fibo_signals - Fibonacci level used for determining buy and sell areas;
- history - indicator display range.