# Bollinger Bands Pivot Points for ThinkorSwim

#### BenTen

Staff member
Staff
VIP
This indicator plot pivot points based on Bollinger Bands. Useful for finding potential support and resistance.

If your chart gets shrunk after adding the indicator, then left-click on the screen > Chart Scale > untick Fit studies.

### thinkScript Code

Code:
``````# Bollinger Bands Pivot Points
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/OIRD4yQB/

input length = 50;
input mult = 2.0;
input src = close;

def basis = simpleMovingAvg(src, length);
def dev = mult * stdev(src, length);
def upper = basis + dev;
def lower = basis - dev;

def pivot1 = if close[1]>upper[1] and close<upper then close[1] else pivot1[1];
def pivot2 = if close[1]<lower[1] and close> lower then open[1] else pivot2[1];
def pivot3 = if close[1]<upper[1] and close>upper then low else pivot3[1];
def pivot4 = if close[1]>lower[1] and close<lower then high else pivot4[1];

plot line1 = pivot1;
plot line2 = pivot2;
plot line3 = pivot3;
plot line4 = pivot4;

line1.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
line1.SetDefaultColor(Color.UPTICK);
line1.SetLineWeight(1);
line2.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
line2.SetDefaultColor(Color.DOWNTICK);
line2.SetLineWeight(1);
line3.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
line3.SetDefaultColor(Color.CYAN);
line3.SetLineWeight(1);
line4.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
line4.SetDefaultColor(Color.MAGENTA);
line4.SetLineWeight(1);;``````

## The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
• Exclusive indicators
• Proven strategies & setups
• Private Discord community
• Exclusive members-only content
• Add-ons and resources
• 1 full year of unlimited support

### Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?