Madrid Bollinger Bands SD

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This study tracks where the 5MA is relative to the Bollinger Bands
Bollinger Bands are segmented in four parts, +/- 2 stdDev and +/- 1 stdDev
+/- 1 : first StdDev Band
+/- 4 : Second StdDev Band
+/- 9 : Overbought / Oversold (Beyond 2nd SD Band)

This study is used to reduce the clutter on the screen. Instead of displaying the whole band, it displays a map that shows on which band the price is located. And provides at a glance the strength of the trend.

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ملاحظات الأخبار

This is an recompiled Bollinger Bands SD version for Pinescript 3.0