Fibline Glance: Bollinger Bands and EMA Indicator for ThinkorSwim

[BenTen]

This is an indicator combines Bollinger Bands and an exponential moving average.

If the price is near the lower Bollinger Band (oversold) AND above the EMA (uptrend), that could be a good time to buy.
If it’s near the upper band (overbought) AND below the EMA (downtrend), that might be a good time to sell

thinkScript Code

# WalkingBallista & BenTen
# Source: https://www.tradingview.com/script/AcSV26QX-Fibline-Glance/
# https://usethinkscript.com/d/102-fibline-glance-bollinger-bands-and-ema-indicator-for-thinkorswim

# Fast Cloud
input price = close;
input displace = 0;
input length = 9;
input Num_Dev_Dn = -0.1;
input Num_Dev_up = 0.1;
input averageType = AverageType.Simple;

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

def MidLine = MovingAverage(averageType, data = price[-displace], length = length);
plot LowerBand = MidLine + num_Dev_Dn * sDev;
plot UpperBand = MidLine + num_Dev_Up * sDev;

# Slow Cloud
input slow_price = close;
input slow_displace = 0;
input slow_length = 40;
input slow_Num_Dev_Dn = -0.4;
input slow_Num_Dev_up = 0.4;
input slow_averageType = AverageType.Simple;

def slow_sDev = stdev(data = slow_price[-slow_displace], length = slow_length);

def slow_MidLine = MovingAverage(averageType, data = slow_price[-slow_displace], length = slow_length);
plot slow_LowerBand = slow_MidLine + slow_num_Dev_Dn * slow_sDev;
plot slow_UpperBand = slow_MidLine + slow_num_Dev_Up * slow_sDev;

LowerBand.SetDefaultColor(GetColor(2));
UpperBand.SetDefaultColor(GetColor(2));

slow_LowerBand.SetDefaultColor(GetColor(1));
slow_UpperBand.SetDefaultColor(GetColor(1));

DefineGlobalColor("Fast_Cloud", Color.Orange);
DefineGlobalColor("Slow_Cloud", Color.Cyan);

addCloud(LowerBand, UpperBand, GlobalColor("Fast_Cloud"), GlobalColor("Fast_Cloud"));
addCloud(slow_LowerBand, slow_UpperBand, GlobalColor("Slow_Cloud"), GlobalColor("Slow_Cloud"));

Shareable Link

https://tos.mx/GUpdkQ

Credits:

• SandroTurriate
• @WalkingBallista