Madrid Bollinger Bands Background

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This displays a background color according to the position of the closing price on the Standard Deviation band
Blue for upper bands, Orange for lower bands
Bold color for oversold/overbought conditions

This study can be used as a standalone bar or it can be merged with other indicators or used as a chart background. The parameters it requires are simple, the length of the study, the multiplier and the kind of input, by default the closing price.

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ملاحظات الأخبار

This is an updated version of the Bollinger Band Background script recompiled for pinescript 3.0