OPEN-SOURCE SCRIPT
SW Hybrid Bollinger Bands
## Overview
Welcome to the **SW Hybrid Bollinger Bands**, a modern take on the classic Bollinger Bands volatility indicator.
Unlike traditional Bollinger Bands that strictly use the closing price and a single Simple Moving Average (SMA), this script dynamically calculates standard deviation bands based on both the **High** and **Low** price points of candles. Furthermore, it incorporates both **EMA (Exponential Moving Average)** and **WMA (Weighted Moving Average)** to provide a smoother, more responsive volatility channel.
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## How It Works
The indicator splits the volatility channels into two distinct zones:
* **Green Channels (High-Based):** Calculated using the candle's *High* price, integrated with EMA and WMA. These act as ultimate dynamic resistance zones and momentum gauges for upside moves.
* **Purple Channels (Low-Based):** Calculated using the candle's *Low* price, integrated with EMA and WMA. These serve as dynamic support zones and exhaustion areas during downward trends.
* **Center Line (White):** A standard 20-period SMA to keep you anchored to the baseline trend.
By blending EMA (which reacts faster to recent price action) and WMA (which emphasizes linear weight), the fills between these lines create unique **"Liquidity/Volatility Belts"** rather than single strict lines.
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## How to Trade with It
1. **Trend Riding:** During strong uptrends, the price tends to float between the 20 SMA and the upper Green Channels. In strong downtrends, it stays between the 20 SMA and the lower Purple Channels.
2. **Reversals & Exhaustion:** When the price penetrates deep into the outer green or purple filled zones, it often signals an overextended market, hinting at a potential mean-reversion back to the white 20 SMA.
3. **Volatility Squeezes:** When the green and purple bands compress tightly towards each other, expect a massive explosive breakout soon.
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## Release Notes
* **Open Source:** Free for the community! Feel free to favorite, share, and modify.
* **Version:** Pine Script v6 optimized.
* **Clean Visuals:** Red color elements updated to sleek **Purple** for better chart readability and modern aesthetic.
*Disclaimer: This script is for educational and informational purposes only. Past performance does not guarantee future results.*
Welcome to the **SW Hybrid Bollinger Bands**, a modern take on the classic Bollinger Bands volatility indicator.
Unlike traditional Bollinger Bands that strictly use the closing price and a single Simple Moving Average (SMA), this script dynamically calculates standard deviation bands based on both the **High** and **Low** price points of candles. Furthermore, it incorporates both **EMA (Exponential Moving Average)** and **WMA (Weighted Moving Average)** to provide a smoother, more responsive volatility channel.
---
## How It Works
The indicator splits the volatility channels into two distinct zones:
* **Green Channels (High-Based):** Calculated using the candle's *High* price, integrated with EMA and WMA. These act as ultimate dynamic resistance zones and momentum gauges for upside moves.
* **Purple Channels (Low-Based):** Calculated using the candle's *Low* price, integrated with EMA and WMA. These serve as dynamic support zones and exhaustion areas during downward trends.
* **Center Line (White):** A standard 20-period SMA to keep you anchored to the baseline trend.
By blending EMA (which reacts faster to recent price action) and WMA (which emphasizes linear weight), the fills between these lines create unique **"Liquidity/Volatility Belts"** rather than single strict lines.
---
## How to Trade with It
1. **Trend Riding:** During strong uptrends, the price tends to float between the 20 SMA and the upper Green Channels. In strong downtrends, it stays between the 20 SMA and the lower Purple Channels.
2. **Reversals & Exhaustion:** When the price penetrates deep into the outer green or purple filled zones, it often signals an overextended market, hinting at a potential mean-reversion back to the white 20 SMA.
3. **Volatility Squeezes:** When the green and purple bands compress tightly towards each other, expect a massive explosive breakout soon.
---
## Release Notes
* **Open Source:** Free for the community! Feel free to favorite, share, and modify.
* **Version:** Pine Script v6 optimized.
* **Clean Visuals:** Red color elements updated to sleek **Purple** for better chart readability and modern aesthetic.
*Disclaimer: This script is for educational and informational purposes only. Past performance does not guarantee future results.*
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.