Using the 5 day SMA. We are measuring 2x the standard deviation. To predict future short term stock prices.
study(shorttitle="BB", title="Bollinger Bands 5", overlay=true) length = input(4, minval=1) src = input(close, title="Source") mult = input(2.0, minval=0.001, maxval=50) basis = sma(src, length) dev = mult * stdev(src, length) upper = basis + dev lower = basis - dev plot(basis, color=red) p1 = plot(upper, color=blue) p2 = plot(lower, color=blue) fill(p1, p2)