Here is a code from one of the visitors of my website : “Winnie37”.
He asked me to make a code of Fibonacci Bands with ATR, but I didn’t have the time to create it within the week, and I didn’t knew the formula.
So he coded it himself (congratulations !), and allowed me to publish it.
Here it is, simple and effective.
period = 20 // à changer selon convenance
indicator1 = ExponentialAverage[period](close)
indicator2 = AverageTrueRange[period](close)
upperBand4 = INDICATOR1 + INDICATOR3
upperBand3 = INDICATOR1 + INDICATOR4
upperBand2 = INDICATOR1 + INDICATOR5
upperBand1 = INDICATOR1 + INDICATOR6
lowerBand4 = INDICATOR1 - INDICATOR3
lowerBand3 = INDICATOR1 - INDICATOR4
lowerBand2 = INDICATOR1 - INDICATOR5
lowerBand1 = INDICATOR1 - INDICATOR6
RETURN upperBand4 coloured(0,0,0),upperBand3 coloured(255,0,255),upperBand2 coloured(255,153,0),upperBand1 coloured(255,255,0),lowerBand4 coloured(0,0,0),lowerBand3 coloured(255,0,255),lowerBand2 coloured(255,153,0),lowerBand1 coloured(255,255,0)
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