OPEN-SOURCE SCRIPT
Updated Double Bollinger Bands (EMA/WMA Channels + SMA20)
This indicator plots two Bollinger Band-style channels using different moving averages to provide a clearer view of price structure and volatility.
The first channel is based on an EMA (Exponential Moving Average) and represents the primary, more responsive trend.
The second channel uses a WMA (Weighted Moving Average), offering a slightly smoother perspective on price movement.
Both channels are calculated using the standard deviation of price, creating dynamic upper and lower bands that expand during high volatility and contract during consolidation.
The first channel is based on an EMA (Exponential Moving Average) and represents the primary, more responsive trend.
The second channel uses a WMA (Weighted Moving Average), offering a slightly smoother perspective on price movement.
Both channels are calculated using the standard deviation of price, creating dynamic upper and lower bands that expand during high volatility and contract during consolidation.
Release Notes
Updated chart.Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.