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#1 Selling Amibroker Plugin featuring:
STARC Bands for Amibroker (AFL)
STARC Bands developed by Manning Stoller consist of a channel surrounding a Simple Moving Average of typical Price. The width of the channel created vary with the period of the average range. Like Bollinger Bands, STARC Bands tighten in steady or low volatility markets and widen as volatility goes up. The difference lies in that rather than being based on Closes, STARC Bands are based on the ATR, which reflect indepth picture of the market volatility. While the penetration of a Bollinger Band may indicate a continuation of a price move, STARC Bands define the upper and lower limits for normal price action.
The default for MA is 6 period and ATR average is 15 – can be user defined through Param settings.
Screenshots
Indicator / Formula
/* S T A R C Bands */
/* AFL code by Prakash Shenoi */
x=Param("Average ",5,1,21);
y=Param("ATR ",1,1,21);
typ=(H+L+C)/3;
s=MA(typ,x);
Up=(s +(ATR(y)*1.33));
Lo=(s-(ATR(y)*1.33));
Plot (C,"STARC BANDS - Close",1,64);
Plot (Up,"UB",27,4);
Plot (s,"Mid",22,1);
Plot (Lo,"LB",27,4);
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