Bollingerbandwidth For ThinkOrSwim

[Happymono]

Looked around to see if there were any scripts similar but to no avail the idea being that the color will shift in regards to the bands contracting or expanding
also curious if the color shift could be plotted onto the middle bollinger moving average to lessen the amount of lower indicators

//@version=3
// Hector R. Madrid : Bollinger Bands Width.  : 6/JUN/2014 22:57 : 2.0
// The contractions and expansions of the bands are
// represented by two different colors.
//

study(title="Madrid Bollinger Bands Width", shorttitle="MBBW")
src = input(close, type=source)
length = input(34, minval=1), mult = input(2.0, minval=0.001, maxval=50)

basis = sma(src, length)
dev = stdev(src, length)
upper1 = basis + dev
lower1 = basis - dev
upper2 = basis + 2*dev
lower2 = basis - 2*dev

bbw = (upper2 - lower2)*100/lower2

// Output
plot(bbw, color=bbw-ema(bbw,5)>=0?teal:navy, linewidth=2, style=area)

 

[BenTen]

Check out the existing BollingerBandwidth indicator in ThinkorSwim.

#
# TD Ameritrade IP Company, Inc. (c) 2008-2020
#

declare lower;

input averageType = AverageType.Simple;
input price = close;
input displace = 0;
input length = 20;
input Num_Dev_Dn = -2.0;
input Num_Dev_Up = 2.0;
input BulgeLength = 150;
input SqueezeLength = 150;

def upperBand = BollingerBands(price, displace, length, Num_Dev_Dn, Num_Dev_Up, averageType).UpperBand;
def lowerBand = BollingerBands(price, displace, length, Num_Dev_Dn, Num_Dev_Up, averageType).LowerBand;
def midLine = BollingerBands(price, displace, length, Num_Dev_Dn, Num_Dev_Up, averageType).MidLine;

plot Bandwidth = (upperBand - lowerBand) / midLine * 100;
Bandwidth.SetDefaultColor(GetColor(1));

plot Bulge = Highest(Bandwidth, BulgeLength);
Bulge.SetDefaultColor(GetColor(8));
Bulge.setStyle(Curve.SHORT_DASH);

plot Squeeze = Lowest(Bandwidth, SqueezeLength);
Squeeze.SetDefaultColor(GetColor(8));
Squeeze.setStyle(Curve.SHORT_DASH);

 

[Happymono]

Thank you for the suggestion though i'm embarrassed to say i'm no pro at reading that default and was why i looked into visual green/red light sort of band width indicator

 

[acjtumio1987]

Hi Everyone, I've been using the TD Ameritrade Bollinger Bandwidth indicator, but I want a version where the colors are dynamically set for increasing, decreasing, and even.

I tried coding it myself but I was getting an error

I have posted the code, if someone could please help me i'd be very grateful.

declare lower;

input averageType = AverageType.exponential;
input price = close;
input displace = 0;
input length = 20;
input Num_Dev_Dn = -2.0;
input Num_Dev_Up = 2.0;
input BulgeLength = 150;
input SqueezeLength = 150;

def upperBand = BollingerBands(price, displace, length, Num_Dev_Dn, Num_Dev_Up, averageType).UpperBand;
def lowerBand = BollingerBands(price, displace, length, Num_Dev_Dn, Num_Dev_Up, averageType).LowerBand;
def midLine = BollingerBands(price, displace, length, Num_Dev_Dn, Num_Dev_Up, averageType).MidLine;

plot Bandwidth = (upperBand - lowerBand) / midLine * 100;
Bandwidth.SetDefaultColor(GetColor(1));

plot Bulge = Highest(Bandwidth, BulgeLength);
Bulge.SetDefaultColor(GetColor(8));
Bulge.setStyle(Curve.SHORT_DASH);

plot Squeeze = Lowest(Bandwidth, SqueezeLength);
Squeeze.SetDefaultColor(GetColor(8));
Squeeze.setStyle(Curve.SHORT_DASH);

bandwidth.DefineColor("Up", GetColor(1));
bandwidth.DefineColor("Down", GetColor(0));
bandwidth.DefineColor("even", GetColor(2));
bandwidth.AssignValueColor(if bandwidth > bandwidth[1] then
bandwidth.color("Up") else (if bandwidth < bandwidth[1] then
bandwidth.color("down") else bandwidth.color("even)));

 

[rad14733]

@acjtumio1987 The following is one of my Bollinger Band Studies... Perhaps you will find the code helpful...

# BollingerBands_rad14733
# Modified by rad14733
# Added trend indicating midLine
# Added optional cloud between bands

input price = close;
input displace = 0;
input length = 21;
input Num_Dev_Dn = -2.0;
input Num_Dev_up = 2.0;
input averageType = AverageType.Simple;
input showCloud = yes;

def sDev = stdev(data = price[-displace], length = length);

plot MidLine = MovingAverage(averageType, data = price[-displace], length = length);
MidLine.AssignValueColor(if MidLine > MidLine[1] then Color.LIME else if MidLine < MidLine[1] then Color.MAGENTA else Color.LIGHT_GRAY);
MidLine.SetLineWeight(2);

plot UpperBand = MidLine + num_Dev_Up * sDev;
UpperBand.AssignValueColor(if MidLine > MidLine[1] then Color.LIME else if MidLine < MidLine[1] then Color.MAGENTA else Color.LIGHT_GRAY);
#UpperBand.SetDefaultColor(Color.WHITE);
#UpperBand.SetDefaultColor(CreateColor(50, 150, 250));
UpperBand.SetLineWeight(2);

plot LowerBand = MidLine + num_Dev_Dn * sDev;
LowerBand.AssignValueColor(if MidLine > MidLine[1] then Color.LIME else if MidLine < MidLine[1] then Color.MAGENTA else Color.LIGHT_GRAY);
#LowerBand.SetDefaultColor(Color.WHITE);
#LowerBand.SetDefaultColor(CreateColor(50, 150, 250));
LowerBand.SetLineWeight(2);

AddCloud(if showCloud == yes then LowerBand else Double.NaN, if showCloud  == yes then UpperBand else Double.NaN, Color.GRAY, Color.GRAY);

 

[acjtumio1987]

@acjtumio1987 The following is one of my Bollinger Band Studies... Perhaps you will find the code helpful...

# BollingerBands_rad14733
# Modified by rad14733
# Added trend indicating midLine
# Added optional cloud between bands

input price = close;
input displace = 0;
input length = 21;
input Num_Dev_Dn = -2.0;
input Num_Dev_up = 2.0;
input averageType = AverageType.Simple;
input showCloud = yes;

def sDev = stdev(data = price[-displace], length = length);

plot MidLine = MovingAverage(averageType, data = price[-displace], length = length);
MidLine.AssignValueColor(if MidLine > MidLine[1] then Color.LIME else if MidLine < MidLine[1] then Color.MAGENTA else Color.LIGHT_GRAY);
MidLine.SetLineWeight(2);

plot UpperBand = MidLine + num_Dev_Up * sDev;
UpperBand.AssignValueColor(if MidLine > MidLine[1] then Color.LIME else if MidLine < MidLine[1] then Color.MAGENTA else Color.LIGHT_GRAY);
#UpperBand.SetDefaultColor(Color.WHITE);
#UpperBand.SetDefaultColor(CreateColor(50, 150, 250));
UpperBand.SetLineWeight(2);

plot LowerBand = MidLine + num_Dev_Dn * sDev;
LowerBand.AssignValueColor(if MidLine > MidLine[1] then Color.LIME else if MidLine < MidLine[1] then Color.MAGENTA else Color.LIGHT_GRAY);
#LowerBand.SetDefaultColor(Color.WHITE);
#LowerBand.SetDefaultColor(CreateColor(50, 150, 250));
LowerBand.SetLineWeight(2);

AddCloud(if showCloud == yes then LowerBand else Double.NaN, if showCloud  == yes then UpperBand else Double.NaN, Color.GRAY, Color.GRAY);

Thank you very much this actually is helpful!

 

[Razor_Morozumi]

Thanks to Moderator MerryDay, my previous question of "how to scan BollingerBands daily trend" was answered and now I can scan BollingerBands gap expansion movement.

This is further question related previous one "how to can BollingerBands daily trend and catch steep gap expansion movement?"

In order to identify steep gap expansion between UpperBands and LowerBands over time (say compared to 2 days ago and yesterday), is there any way for setting scan parameter for catching gap ratio increasing?
For example, when we refer gap between UpperBands and LowerBands on 2 days ago and yesterday (1 day ago), can we scan stock which has more than 50% gap increasing (or any expansion ratio at least steep enough) ?

This scan is not directly compared indicator value between 2 days ago and yesterday, but calculated value (gap between UpperBands value - LowerBands value).
Does TOS may offer that we can create such customized scan ?

 

[MerryDay]

@Razor_Morozumi It would take complex coding to accomplish what you are asking. There may be another way to approach it. TOS has a built-in indicator BollingerBandWidth that oscillates depending on that ratio. You could try playing w/ it and/or search this forum to find out how others are playing w/ this ratio.

 

[Razor_Morozumi]

Hi MerryDay,

Thank you again on this matter.
I didn't know TOS already has BoillingerBandWidth indicator. My bad.
I'll take a look and play with it if anything I may utilize for what I am looking for.