What it does
Fibonacci Bollinger Bands build a channel around a central moving average (often a VWMA or SMA of typical price) using multiples of the average true range or standard deviation scaled by Fibonacci ratios: typically 0.236, 0.382, 0.5, 0.618, 0.764 and 1.0 above and below. The result is a fan of six bands each side of the basis line. They act as graduated support and resistance zones instead of a single band.
Typedraws on the price chart
How to add it
Click Indicators (ƒx) in the header.
Search “Fibonacci Bollinger Bands” and click the result.
Hover its legend row and click the gear to open settings.
How traders use it
- The outermost 1.0 bands behave like classic Bollinger extremes: touches there mark stretched conditions where mean reversion toward the basis becomes likely.
- In trends, the intermediate bands (0.382-0.618) act as pullback support in uptrends and resistance in downtrends; look for entries with reversal candles there.
- A close beyond the outer band with strong volume signals genuine breakout strength rather than an automatic fade.
- Use the basis line as the trend divider: price holding above it favors longs, below it favors shorts.
- Combine with an oscillator (RSI, Stochastic) to time bounces from the inner bands.
Inputs
| Input | Type | Default | Range / Options |
|---|---|---|---|
| Length | number | 200 | 1–500 |
| Source | select | hlc3 | Close / Open / High / Low / HL2 / HLC3 / OHLC4 |
| Mult | number | 3 | 0.001–50 |
Plots & styling
| Plot | Style | Default color |
|---|---|---|
| Basis | line | #FF00FF |
| 0.236 | line | #FFFFFF |
| 0.382 | line | #FFFFFF |
| 0.5 | line | #FFFFFF |
| 0.618 | line | #FFFFFF |
| 0.764 | line | #FFFFFF |
| Upper 1 | line | #FF0000 |
| 0.236 | line | #FFFFFF |
| 0.382 | line | #FFFFFF |
| 0.5 | line | #FFFFFF |
| 0.618 | line | #FFFFFF |
| 0.764 | line | #FFFFFF |
| Lower 1 | line | #00FF00 |
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
- 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.
- Use Add to favorites in the legend menu; starred studies surface at the top of the picker.
Watch out for
- With twelve lines on screen, it is easy to find a band that 'worked' after the fact; confirmation from price action is essential.
- Like all envelope tools it assumes mean reversion; in runaway trends price rides the outer band and fading it is costly.