Renminbi Peg Band

Simple script to draw the upper and lower bands based on the % tolerance the PBOC has set around their reference rate.

Right now, reference rate and % tolerance are input variables that must be input/updated manually. Hopefully one day Tradingview allows the automatic update to be scripted.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
//FxLowe - CNY Peg Bands.

study(title = "CNY Peg Band", overlay = true)
ReferenceRate = input(title="Reference Rate", type=float, defval=6.5233)
TolerancePercent = input(title="Percentage Tolerance", type=float, defval=2.1)

band = ReferenceRate * (TolerancePercent/100)

plot(ReferenceRate+band, title="Upper Bound", color=orange, editable=true)
plot(ReferenceRate-band, title="Lower Bound", color=orange, editable=true)


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