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WiseTrader Toolbox
#1 Selling Amibroker Plugin featuring:
Better Bollinger Bands for Amibroker (AFL)
In the Futures Magazine, October 1998, Dennis McNicholl describesthe use of Bollinger Bands and provides a means of making them tighter whenmarkets are trending. He calls them Better Bollinger Bands.
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Indicator / Formula
pds=Param("Periods",20,2,200); sd=Param("Standard Deviations",2, 0.01,10); alpha=2/(pds+1); mt=AMA( C, alpha ); ut=AMA( mt, alpha ); dt=((2-alpha)*mt-ut)/(1-alpha); mt2=AMA(abs(C-dt), alpha ); ut2=AMA(mt2,alpha ); dt2=((2-alpha)*mt2-ut2)/(1-alpha); but=dt+sd*dt2; blt=dt-sd*dt2; Plot( C, "Price", colorBlack, styleCandle ); Plot( but, "Upper band", colorRed ); Plot( blt, "Lower band", colorRed );
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