FXCodeBase.COM: Forex Chart Indicators and Development

Hello,

These are 2 additions to Bollinger Bands indicator:

1. Bollinger Bands - Percentage (Line)
Formula: b% = ((close - lower band) / (upper band - lower band)) * 100

NOTE There is NEW version or %B indicator.



2. Bollinger Bands - Bandwidth (Histogram/Bar)
Formula: Bandwidth = ((upper band - lower band) / middle band)


These two and original Bollinger Bands from MarketScope, can be ran together for best effect.

Here is a screenshot of % and bandwidth running:


Buy/Sell signals (provided by fxcodebase.com user):
Buy Signal - Bollinger Percent = 0 (<0.1)
Sell Signal - Bollinger Percent = 1 (>0.9)

Detailed Description of Bollinger Bands can be found here at their official website:
http://www.bollingerbands.com/services/bb/

Thanks for the effort, as far as I can see, Bollinger Percentages (% B) corresponds to the specification, I gave.
I have two suggestions, would be helpful to add line a line at 0.5 and 1 (50 and 100 percent).

Apprentice wrote:Thanks for the effort, as far as I can see, Bollinger Percentages (% B) corresponds to the specification, I gave.
I have two suggestions, would be helpful to add line a line at 0.5 and 1 (50 and 100 percent).

Good, i'm really glad our work is useful to people. Let me know if anything needs to be fixed or changed, tweaked, etc....

As far as adding lines, yes its possible to do using an indicator, but doesn't MarketScope allow adding of any type of lines user desires right on top of the chart?

you're right, I'm a little lazy

There is a little extension of BBW oscillator

Bollinger Bandswidth oscillator would help to measure price plot’s volatility; it shows result as a width of Bollinger Bands in times, points or price %. Technically speaking Bollinger Bandswidth is a standard deviation of price movement multiplied by [some] number of deviations.

When the BBW is close to 0 it shows low volatility and when it moves to its high levels volatility is high. You have to understand that width of Bollinger Bands is VERY depend on time frame; so you have to setup range levels of the oscillator every time when you change the time frame. Default levels (0.28-1.4) are good for BB(5min,75,2) only.

As a rule, volatility moves in cycles - periods of low volatility are replaced by periods of high volatility. In general, periods of high volatility can be noted during down-trends and corrections downward. Periods of low volatility can be observed during up-trends and recoveries.

Also this nutty oscillator could help to filter out a noise of insufficient signals producing by some indicators (like Volty Channel Stop) in low volatile market.

Attached 2 versions of Oscillator: single time frame and bigger time frame.

Hello,

I would like to ask is it possible to change/tweak this indicator a bit with showing it like a histogram or otherwise tell me how to add lines to this indicator itself so I can later remove/add this indicator with the lines I setup before ... if this is possible?

Thanks

Like This.


Simply replacing core.Line with core.Bar.
When you define indicator output stream.

Sorry again for bothering but how is it possible to add lines to this indicator and with different colours.. for example lines on levels 100 and 0 ?

Thanks a lot

nookie

I'll try to write something.

Style Option Added to Bollinger Band - Percentage Oscillator