Using the Bollinger Band to mark areas of Support and Resistance
The scrip finds the highest and lowest levels of the bands to mark up futures areas of interest. If the High/Lows are being broken on the Bollinger band, or if the look back range has expired without finding new levels, the script will stop plotting them until new levels are found
I have found many combinations which work well Changing the band length to to levels 20,50,100 or 200 seem to give interesting results
Aswell as this changing the standard deviation to 3 instead of 2 marks up key levels.
The look back range seems to show better levels on 50,100 and 200
Let me know any changes or updates you think you could make an impact , this was just a quick basic script I wanted to share.
THANK YOU FOR THIS. Youre getting some love on youtube btw. Any settings you would suggest for a 15 min or 1 min time frame?
TradingWolf
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@meganxann18, Thanks, I don't have a youtube channel at the moment! I didn't use them on ltf but 20,50,100 or 200 seems to have the most traction. Good luck!