Fibonacci bollinger bands indicator

(Click on image to enlarge)

The Bollinger bands Fibonacci ratios is a volatility based indicators but instead of using standard deviation as the measure of volatility, a Smoothed ATR is used in its place that are multiplied with Fibonacci ratios of 1.618, 2.618, and 4.236.

The smoothed lines that are multiplied with Fibonacci ratios are then added or subtracted from the moving average.

This forms 3 upper Fibonacci bands and 3 lower Fibonacci bands. The lines below represent support points while those above are resistance levels. The outermost bands provide the strongest resistance/support.