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Smoothed Triangle Basis TP Bollinger Bands

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Modified Bollinger Bands valuation indicator that excels at identifying take profit levels without losing strength as price crushes ATHs.

Useful as addition for long-only trend-following systems to identify overbought zones and secure more profits without having to "wait for a downtrend".

Uses a TMA (double SMA) for the Bollinger Bands basis, and then applies a DEMA to the entire plot to smooth it out.

TMA allows it to not lose strength while price continues going higher in an uptrend. This is a common issue with normal valuation indicators like an RSI or a MFI. "Bearish divergence".

DEMA allows the user to customise the plot to have less noise. Making the signals more conclusive.

Example levels are given in red, orange, yellow. Could use those for TP % zones (20, 15, 10 for example).
הערות שחרור
Added visualisation for bearish RSI divergence and loss of strength

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