Simple Bollinger Bands + 3 EMA

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We know that the number of indicators that we can use is limited, that is why with this indicator the Bollinger Bands + 3 EMAs join and be able to use 4 indicators in 1.

Bollinger Bands (BB)
Bollinger Bands (BB) are a widely popular technical analysis instrument created by John Bollinger in the early 1980’s. Bollinger Bands consist of a band of three lines which are plotted in relation to security prices. The line in the middle is usually a Simple Moving Average (SMA) set to a period of 20 days (the type of trend line and period can be changed by the trader; however a 20 day moving average is by far the most popular). The SMA then serves as a base for the Upper and Lower Bands which are used as a way to measure volatility by observing the relationship between the Bands and price. Typically the Upper and Lower Bands are set to two standard deviations away from the SMA (The Middle Line); however the number of standard deviations can also be adjusted by the trader.

Exponential Moving Average (EMA)
Moving averages visualize the average price of a financial instrument over a specified period of time. However, there are a few different types of moving averages. They typically differ in the way that different data points are weighted or given significance. An Exponential Moving Average (EMA) is very similar to (and is a type of) a weighted moving average. The major difference with the EMA is that old data points never leave the average. To clarify, old data points retain a multiplier (albeit declining to almost nothing) even if they are outside of the selected data series length.

The 3 EMAs that the Script has, are configured as follows:
  • Fast EMA (purple) 10 periods.
  • Slow EMA (blue) 55 periods.
  • Big EMA (olive) 200 periods.
However, you can configure each one with the color and the number of periods you want.

There are other indicators in the Public Library that have similar functions to this Script, but they all do it in a more complex and less friendly way when configuring it, for this reason we wanted to keep this Script as simple as possible.
Informacje o Wersji:
- You can choose between Exponential Moving Averages (EMA) or Simple Moving Averages (SMA).
- Now the options are grouped.

Skrypt open-source

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