Bollinger bandwidth indicator with dynamic lines for bulge and squeeze

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01/15/2022 at 3:15 AM #185506 quote

yomisadiku
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New

Hi All,

Hope you are well. I am trying to replicate the attached Bollinger bandwidth indicator seen from tradingview and scripted as below:

A similar indicator on PRT only has the bandwidth oscillator without the marker lines for the lowest or highest of the previous lookback periods. Therefore i have been manually applying the horizontal lines for each market that i am looking at, which is a bit of work.

I appreciate anyone who can help with the code for this indicator. Let me know if you need more informaion.

Thank you,

Yomi

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//@version=4
study(title = “Bollinger Bandwidth – Bulge and squeeze”, shorttitle = “Bollinger Bandwidth”, format=format.price, precision=2, resolution=””)
length = input(20, minval=1)
src = input(close, title=”Source”)
mult = input(2.0, minval=0.001, maxval=50, title=”StdDev”)
highlowlength = input(20, minval=1, title=”High Low Lookback Short”)
[main, top, bottom] = bb(src, length, mult)
bandwidth = (top-bottom)/main
short_lowest = lowest(bandwidth, highlowlength)
short_highest = highest(bandwidth, highlowlength)

plot(bandwidth, “Bollinger Bandwidth”, color=color.blue)
p1 = plot(short_highest, color=color.green, title=”Lowest”)
p2 = plot(short_lowest, color=color.red, title=”Highest”)

fill(p1, p2, color = bandwidth> short_lowest? color.green : color.red, title=”Background”)

==========================================

Bollinger-bandwidth.jpg

01/16/2022 at 1:48 PM #185609 quote
JS
Participant

Master
Hi @yomisadiku
```
BandWidth = BollingerBandWidth[Period](close)
HighestUp = Highest[Period](BandWidth)
LowestDown = Lowest[Period](BandWidth)

Return BandWidth Coloured(0,0,255) as "BandWidth", HighestUp Coloured(0,255,0) as "HighestUp", LowestDown Coloured(255,0,0) as "LowestDown"
```
Schermafbeelding-2022-01-16-om-13.44.15.png
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