Can someone fix this error code?


New member
# Enhanced Bollinger Bands Squeeze Indicator with Volume Confirmation

# Input parameters
input length = 20;
input numDevDn = -2.0;
input numDevUp = 2.0;
input volumeMultiplier = 1.5;
input rsiLength = 14;
input rsiOverbought = 70;
input rsiOversold = 30;

# Calculate Bollinger Bands
def price = close;
def sma = SimpleMovingAvg(price, length);
def sd = StDev(price, length);
def lowerBand = sma - numDevDn * sd;
def upperBand = sma + numDevUp * sd;

# Calculate Bollinger Bands Width
def bbWidth = (upperBand - lowerBand) / sma;

# Calculate Volume Multiplier
def averageVolume = Average(volume, length);
def volumeCondition = volume > averageVolume * volumeMultiplier;

# Calculate RSI
def rsi = RSI(close, rsiLength);

# Calculate Moving Averages
def shortMA = SimpleMovingAvg(close, 10);
def longMA = SimpleMovingAvg(close, 50);

# Plot Bollinger Bands Squeeze Signal
plot squeezeSignal = if bbWidth <= Lowest(bbWidth, length) and volumeCondition then 1 else 0;
squeezeSignal.AssignValueColor(if close > close[1] then Color.GREEN else Color.RED);

# Plot RSI conditions
plot overboughtSignal = if rsi > rsiOverbought then 1 else 0;
plot oversoldSignal = if rsi < rsiOversold then 1 else 0;

# Plot Moving Average Crossover
def trendSignal = if shortMA > longMA and shortMA[1] <= longMA[1] then 1 else if shortMA < longMA and shortMA[1] >= longMA[1] then -1 else 0;
plot trendArrow = if trendSignal == 1 then low - 2 else if trendSignal == -1 then high + 2 else double.nan;

# Highlight Bollinger Bands on the chart
plot bbUpper = upperBand;
plot bbLower = lowerBand;

# Add labels
AddLabel(yes, "Enhanced Bollinger Bands Squeeze with Volume, RSI, and MA Confirmation", Color.CYAN);
AddLabel(yes, "Squeeze Signal: Green arrow indicates potential breakout", Color.YELLOW);
AddLabel(yes, "RSI Overbought: Red arrow indicates potential overbought condition", Color.RED);
AddLabel(yes, "RSI Oversold: Green arrow indicates potential oversold condition", Color.GREEN);
AddLabel(yes, "MA Crossover: Yellow arrow indicates short-term trend change", Color.YELLOW);
I wouldn't necessarily say it's weird or the the same thing. The order of the parameters is important. You had the close as the length input, and the length as the overbought input.


This would have also worked:
def rsi = RSI(price = close, length = rsiLength);

Except, in that case, these inputs would do nothing:
input rsiOverbought = 70;
input rsiOversold = 30;

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
478 Online
Create Post

Similar threads

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • 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?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.