Fibline Glance
This is a set of three indicators combined into one script. The source of the three indicators comes from the tradingview user fibline (www.tradingview.com/u/fibline/). The lines remind me of ichimoku, because at a glance, you can tell what the stock is up to. To me, the orange line does an excellent job of showing support and resistance. I'd be happy to add more to the script if anyone has any ideas.
See one of his charts:
See one of his charts:
study("Fibline Glance", overlay=true)
emaLength = input(title="EMA length", defval=100)
bbFastLength = input(9)
bbFastDeviation = input(0.1)
bbSlowLength = input(40)
bbSlowDeviation = input(0.4)
bbFastAvg = sma(close, bbFastLength)
bbFastStdev = stdev(close, bbFastLength)
bbFastUpper = bbFastAvg + bbFastDeviation*bbFastStdev
bbFastLower = bbFastAvg - bbFastDeviation*bbFastStdev
p1 = plot(bbFastUpper, color=orange)
p2 = plot(bbFastLower, color=orange)
fill(p1, p2, color=orange, transp=60)
bbSlowAvg = sma(close, bbSlowLength)
bbSlowStdev = stdev(close, bbSlowLength)
bbSlowUpper = bbSlowAvg + bbSlowDeviation*bbSlowStdev
bbSlowLower = bbSlowAvg - bbSlowDeviation*bbSlowStdev
p3 = plot(bbSlowUpper, color=#4985e7)
p4 = plot(bbSlowLower, color=#4985e7)
fill(p3, p4, color=#4985e7, transp=30)
plot(ema(close, emaLength), color=lime)