MTF Bollinger Bands TT (3BB)
Hello TradingView Community,
I'm excited to share another indicator I've developed, building upon the usefulness of Multi-Timeframe analysis.
**MTF Bollinger Bands TT (3BB)**
**What is this Indicator?**
This indicator plots Bollinger Bands (BBs) for up to **three different timeframes simultaneously** on your chart. It also allows you to display **standard Basis line, ±1σ bands, ±2σ and ±3σ bands** of three different timeframes, offering more insights into price volatility and potential reversals or continuations.
**Key Features and Benefits:**
This MTF Bollinger Bands indicator is designed to be highly flexible and informative:
1. **Three Timeframes at Once:** Easily visualize the BB structure of three different timeframes alongside your current chart, helping you understand the broader market context.
2. **Multiple Sigma Levels:** Go beyond the standard ±1σ. You can display and analyze price action relative to ±2σ and even ±3σ deviations.
3. **Configurable Moving Average Type:** Choose from various MA types for the basis line, including SMA, EMA, WMA, and VWMA, to best suit your analysis style.
4. **Detailed Customization:** For each of the three timeframes, you can set the period, offset, line colors (for each band: Basis, ±1σ, ±2σ, ±3σ), and line styles/thickness. You can also select the price source (e.g., close, HLC/3).
5. **🎉 Crucial Feature: Wait for Higher Timeframe Candle Close Option 🎉**
One of the challenges with MTF indicators can be "repainting" or changes on the current candle close when using higher timeframes. This indicator includes a **"Wait for HTF Candle Close"** option. When enabled, the indicator will only update the higher timeframe's BBs after that higher timeframe's candle has fully closed. This can help you make more reliable decisions based on confirmed higher timeframe levels.
6. **Informative Labels:** Similar to my MTF MA indicator, this BB indicator can display **labels at the end of the bands**, clearly showing the timeframe and period (e.g., "4H BB(20)"). You can even adjust the label text size (tiny, small, normal, large) in the settings for better visibility.
**How to Use:**
Add the indicator to your chart and open its settings. Configure the three timeframes you wish to display, along with their periods, MA types, and desired sigma bands (±1σ, ±2σ, ±3σ). Customize colors and line styles for clarity. Experiment with the "Wait for HTF Candle Close" option to see how it affects your analysis, especially on intraday charts.
**In Conclusion:**
I created this indicator to provide a powerful and flexible tool for traders who use Bollinger Bands and Multi-Timeframe analysis. I believe the multiple sigma levels, detailed customization, the candle close option, and the informative labels make it particularly useful.
I hope this indicator helps enhance your trading strategy! Please give it a try. Your feedback, suggestions, and bug reports are highly welcome in the comments section.
If you find it useful, please give it a thumbs up! 👍
Thank you, and happy trading!
