Bollinger Bands (BB) are a widely popular instrument created by John . The BB consist of a band of three lines which are plotted in relation to security prices. The line in the middle is usually a ( ) set to a period of 20 days (the type of and period can be changed by the trader; however a 20 day moving average is by far the most popular). The then serves as a base for the Upper and Lower Bands which are used as a way to measure by observing the relationship between the Bands and price. Typically the Upper and Lower Bands are set to two standard deviations away from the (The Middle Line); however the number of standard deviations can also be adjusted by the trader.
This script shows 6 moving averages and .
- Standard MA inputs.
- MA type.
- MA period.
- MA source.
- MA resolution (time frame). [Only MA4, MA5 and MA6]
- MA Offset. [Only MA4, MA5 and MA6]
- Forecasting : forcasted prices are calculated using our MAType and MASource for the MAPeriod.
- Trail: Show only candles not included in the MA calculation.
The color of MA1 depends on the chosen strategy, by default this is the 3EMA strategy. You can also select "Pivot Point Supertrend" or "Ichimoku Trend"
Added "Parabolic Stop and Reverse (PSAR)". The PSAR is a time and price tool primarily used to identify points of potential stops and reverses. In fact, the SAR in stands for "Stop and Reverse". The indicator's calculations create a parabola which is located below price during a and above Price during a .
Added "Linear Regression Channel" which can be correctly plotted on logarithmic charts. A channel consists of a with 2 parallel lines, above and below it, at the same distance. Those lines can be seen as . The is calculated based on of the closing prices but the source can also be set to open, high or low. The height of the channel is based on the deviation of price to the . Extrapolating the channel forward can help to provide a bias and to find trading opportunities.
Added Volume Weighted Bars
Volume Weighted Bars, a study of Kıvanç Özbilgiç, aims to present whether volume supports price movements. Volume Weighted Bars are calculated based on volume moving average.
How to interpret :
-Volume high above the volume moving average be displayed with red/green colors
-Average volume values will remain as they are and
-Volume low below the volume moving average will be indicated with darker colors
The Laguerre Average (filter) was discovered by John Ehlers .
It's a newer type of averaging that is meant to take out as much of the inherent lag that your typical EMA and SMA's give at the start of a major trend change. So what you get is an average that turns more quickly at major trend changes,and doesn't get tripped up on the noise (as much).
- On Balance Volume (OBV)
- Accumulation Distribution (AccDist)
- Price Volume Trend (PVT)
Small modifications were made to the Volume-Profile.
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