Bollinger Bottom + Middle Lines with Inline Text

16 Jul

This script visualizes key Bollinger Band levels based on two different SMAs (20 & 50 periods), with clear labeling and a smart price table.

🔸 Features:

Draws lower and middle Bollinger Band lines for both SMA(20) and SMA(50)

Inline text at the end of each line instead of default labels (cleaner view)

A dynamic table in the top-right corner, sorted from highest to lowest level

Color-coded rows:
▪️ Orange → BB20 Mid & BB20 Lower
▪️ Green → BB50 Mid & BB50 Lower

Auto-updates each bar without cluttering the chart

✅ Ideal for identifying technical accumulation zones
✅ Suitable for investors using scaling-in strategies or mean-reversion logic

3 hari lalu

Nota Keluaran

✅ Summary of Code Updates
1. Extended Horizontal Support Lines (Persistent):
Instead of redrawing new lines on every bar, we now:

Created four line variables using var to hold the horizontal support levels (BB20 Mid, BB20 Lower, BB50 Mid, BB50 Lower).

Used line.new() only once for each level to initialize the lines.

Enabled extend=extend.both to make the lines stretch across the full chart (both left and right).

2. Dynamic Value Updates (Live Adjustment):

On every bar update, line.set_y1() and line.set_y2() are used to adjust the Y-values of each line based on the current Bollinger Band calculations, keeping the lines accurately aligned with the indicator values.

3. Cleaner and More Efficient Rendering:

Reduced overhead by avoiding multiple line.new() calls which would clutter the chart.

Ensured that horizontal levels persist and dynamically reflect any changes in timeframe or price action.