What it does
A hybrid envelope that centers on a moving average or VWAP-style basis and projects bands at Fibonacci multiples (commonly 0.236, 0.382, 0.5, 0.618, 0.764 and 1.0) of a volatility measure such as standard deviation or ATR, instead of the fixed two-standard-deviation Bollinger band. The result is a ladder of graded support and resistance zones expanding and contracting with volatility. Price's position within the ladder shows both trend bias and stretch simultaneously.
How to add it
Click Indicators (ƒx) in the header.
Search “Dext Fibonacci Bollinger Bands” and click the result.
Hover its legend row and click the gear to open settings.
How traders use it
- Use the outermost bands as extreme zones: touches there mark stretched conditions favoring mean reversion toward the basis in ranging markets.
- In trends, price tends to oscillate between the basis and the outer band on the trend side; pullbacks to the basis or first inner band are continuation entries.
- A close beyond the outermost band with expanding volume signals genuine breakout strength rather than exhaustion — look for follow-through, not an instant fade.
- Track which intermediate band is containing pullbacks; containment migrating inward warns the trend is weakening.
Inputs
| Input | Type | Default | Range / Options |
|---|---|---|---|
| Length | number | 200 | 1–1000 |
| Source | select | close | Close / Open / High / Low / HL2 / HLC3 / OHLC4 |
| Mult | number | 3 | 0.1–10 |
Plots & styling
| Plot | Style | Default color |
|---|---|---|
| Basis | line | #FF9800 |
| Upper 23.6% | line | #FFCDD2 |
| Upper 38.2% | line | #EF9A9A |
| Upper 50.0% | line | #E57373 |
| Upper 61.8% | line | #EF5350 |
| Upper 76.4% | line | #F44336 |
| Upper 100.0% | line | #B71C1C |
| Lower 23.6% | line | #C8E6C9 |
| Lower 38.2% | line | #A5D6A7 |
| Lower 50.0% | line | #81C784 |
| Lower 61.8% | line | #66BB6A |
| Lower 76.4% | line | #4CAF50 |
| Lower 100.0% | line | #1B5E20 |
Every plot's color, line width and visibility can be changed on the Style tab. Precision, price-scale labels and status-line values are configurable at the bottom of the Style tab.
Tips
- Double-click any of its lines to jump straight into the settings dialog.
- Save the configured chart as a study template (Indicators menu) to reapply this exact setup elsewhere.
- Right-click the indicator's line for quick actions — settings, visibility and removal without hunting through menus.
Watch out for
- The Fibonacci multipliers are aesthetic conventions, not statistically derived thresholds; the bands' meaning comes from volatility scaling, not the ratios themselves.
- Many overlapping bands invite over-fitting interpretations; without a clear rule set the ladder can justify almost any trade.