The Moving Average Band Width was created by Vitali Apirine (Stocks and Commodities
Aug 2021 pg
25) and this is of course an extension based on my previous Moving Average Bands
script. For those of you that aren't aware, the Band Width indicator is an indicator that tells you how close the upper and lower bands are to each other which is a great determination of how volatility
is increasing or decreasing. This acts as both a trend indicator and a volatility
indicator. I have included strong buy and sell signals in addition to normal ones so stronger signals are darker in color and normal ones are lighter. A great buy signal is when you are in an uptrend (so the line is green already) and the indicator line is moving up which means strong underlying volatility
Let me know if there are any other indicators or scripts you would like to see me publish!