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Better Bollinger Bands by Dennis McNicholl
In an article in 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.

Here is the formula for MetaStock 6.5 or higher.

Better Bollinger Bands I

pds:=Input("Periods",2,200,20);
sd:=Input("Standard Deviations",.01,10,2);
alpha:=2/(pds+1);
mt:=alpha*C+(1-alpha)*(If(Cum(1)<pds,C,PREV));
ut:=alpha*mt+(1-alpha)*(If(Cum(1)<pds,C,PREV));
dt:=((2-alpha)*mt-ut)/(1-alpha);
mt2:=alpha*Abs(C-dt)+(1-alpha)*PREV;
ut2:=alpha*mt2+(1-alpha)*PREV;
dt2:=((2-alpha)*mt2-ut2)/(1-alpha);
but:=dt+sd*dt2;
blt:=dt-sd*dt2;
dt;
but;
blt

A na Guppy'm jest tak :)(

Better Bollinger Bands

In the Oct issue of "Futures" there is an article written by Dennis McNicholl called "Better Bollinger Bands". In his article he describes how in a trending market the center bandof the B.B. will shift away from the "mean" value of the price, and that the two outer bands will shift outward to suchan extent that the envelope loses its utility as a volatility gauge (these are his words... not mine). As usual "Futures" only posted the TradeStation code, so this is myconversion from it. He called the Indicator "Denvelope", and it runs the bands much closer..... similar to "StandardError Bands".

{Denvelope}

Obie s± poprawne, różnica polega na nieco innej pracy w pocz±tkowym okresie obliczeń.
Po jakich¶ 120 sesjach wstęgi pokrywaj± się.

Better Bollinger Bands II

Lb:=Input("Look-Back Period ?",3,100,20);
De:=Input("Band Deviation ?",.5,3,2);
Alp:=2/(Lb+1);
Mt:=Alp*CLOSE+(1-Alp)*PREV;
Ut:=Alp*Mt+(1-Alp)*PREV;
Dt:=((2-Alp)*Mt-Ut)/(1-Alp);
mt2:=Alp*Abs(C-Dt)+(1-Alp)*PREV;
ut2:=Alp*mt2+(1-alp)*PREV;
dt2:=((2-Alp)*mt2-ut2)/(1-Alp);
But:=Dt+de*dt2;
Blt:=Dt-de*dt2;
But;
Dt;
Blt;

Best wishes,
e-mail: VonHef@itlnet.net
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