Fibonnaci Support/Resistance Bands

The ​Bollinger Support/Resistance Bands were created with the purpose of identifying possible entries and exits for day or swing trading. This custom indicator works well on all time frames and on any market found on TradingView. As you can see in in the image above, BNB bounces between the two first green bands while testing the yellow line.

Several different strategies can be used with this custom indicator. First, you could trade the yellow line, meaning when a bar closes above it, you buy and then sell at once it touches the first or second green band. You could also buy the channels on the lower bands, as they act and support lines.

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Here are more examples of this indicator working on different time frames:

BTC/USDT, 3 Minute:

EUR/USD, 1 Hour:

Apple, 4 Hour: