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JASmith's Bollinger bands width-ratio for Amibroker (AFL)
Rating:
2 / 5 (Votes 3)
Tags:
amibroker
Plots ratio of width of bollinger bands to an MA with the same period. Very useful indicator of price volatility and trend. Low values indicate low absolute volatility. Sustained high values usually indicate a strong trend.
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Indicator / Formula
Copy & Paste Friendly
_SECTION_BEGIN("BB Width Ratio");
Price = ParamField("Price", 4);
Periods = Param("Periods", 15, 2, 100, 1 );
Width = Param("Width", 2, 0, 10, 0.05 );
Color = ParamColor("Color", colorRed );
bbt = BBandTop( Price , Periods, Width );
bbb = BBandBot( Price , Periods, Width );
bbWidthRaio = (bbt-bbb)/MA(Price, Periods);
Plot(EMA(bbWidthRaio,3), _DEFAULT_NAME(), colorRed);
_SECTION_END();0 comments
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