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Bollinger Bands HLC for Amibroker (AFL)

Rating:
4 / 5 (Votes 2)
Tags:
amibroker, bands

These are just like normal Bollinger bands but the High is used to calculate the upper band (Green) and the Low is used to calculate the lower band (Red) and the Close is also used to calculate both the upper and lower (Yellow).
I find that using the high to calculate the upper band is more accurate in indicating tops and using the lows to calculate the lower band is more accurate in indicating bottoms.

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Indicator / Formula

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/*Bollinger Bands HLC - cyberman

These are just like normal Bollinger bands but the High is used to calculate the upper band (Green) and 
the Low is used to calculate the lower band (Red) and the Close is also used to calculate both the upper and lower (Yellow).
I find that using the high to calculate the upper band is more accurate in indicating tops 
and using the lows to calculate the lower band is more accurate in indicating bottoms.*/


HighBand = High;
LowBand = Low;
CloseBand = Close;

Periods = Param("Periods",20,8,50,1);
Width = Param("Width",2,2,4,0.1);

Plot( BBandTop( HighBand, Periods, Width ), "HighBand" + _PARAM_VALUES(), colorGreen );

Plot( BBandBot( LowBand, Periods, Width ), "LowBand" + _PARAM_VALUES(), colorRed );

Plot( BBandTop( CloseBand, Periods, Width ), "BBTop" + _PARAM_VALUES(), colorYellow );

Plot( BBandBot( CloseBand, Periods, Width ), "BBBottom" + _PARAM_VALUES(), colorYellow );

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