This script incorporates four different standard signals from Book.
Width. Line blue
. Line gray
Intraday intensity Index “normalized using log( )”. Oscillator line in the middle of the indicator with decision color green = buy, red=sell, purple=na
“normalized, decreased to 20% and limited to 100”
(%B) Alert Level with your switch
(Width) Alert Level with your switch
BB ( ) Alert with your switch
Individual ma settings
All alerts can be adjusted
The color of the Intraday intensity index background and lines help you decide on your breakout direction
The background color has been conditioned to smoothed X periods for the accumulated above the alert level, Intraday Intensity Index direction and %B direction.
I recommend for the use of this indicator to first read John Bollinger's book to understand the usefulness of each of the signals and their configuration to execute the orders.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.