Don_xyZ wrote:Don_xyZ wrote:So... bands/ channel. Which one do you think is the better choice for swing trading or scalping?
Bollinger band.png
Keltner channel.png
Starc bands.png
Gonna revisit them later.
For sure BB is the one mostly used by traders however, there are also good reasons to consider the other two because they use different things in their formulas. However, BB's bands are more dynamic and that is the reason why I prefer this band compared to the other two. There's a lot of trading strategies based on BB on the internet whether it's a single use or in conjunction with other indicator(s).
This one is pretty good.
Code: Select all
//@version=2
study("Bollingers Bands Fibonacci ratios",shorttitle="FiBB",overlay=true)
len=input(defval=20,minval=1)
p=close
sma=sma(p,len)
avg=atr(len)
fibratio1=input(defval=1.618,title="Fibonacci Ratio 1")
fibratio2=input(defval=2.618,title="Fibonacci Ratio 2")
fibratio3=input(defval=4.236,title="Fibonacci Ratio 3")
r1=avg*fibratio1
r2=avg*fibratio2
r3=avg*fibratio3
top3=sma+r3
top2=sma+r2
top1=sma+r1
bott1=sma-r1
bott2=sma-r2
bott3=sma-r3
t3=plot(top3,transp=0,title="Upper 3",color=teal)
t2=plot(top2,transp=20,title="Upper 2",color=teal)
t1=plot(top1,transp=40,title="Upper 1",color=teal)
b1=plot(bott1,transp=40,title="Lower 1",color=teal)
b2=plot(bott2,transp=20,title="Lower 2",color=teal)
b3=plot(bott3,transp=0,title="Lower 3",color=teal)
plot(sma,style=cross,title="SMA",color=teal)
fill(t3,b3,color=navy,transp=85)