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Bollinger Band Squeeze Highlighter and Exploration for Amibroker (AFL)

3 / 5 (Votes 8)
amibroker, bands

Highlights period when Bollinger Band is tightening, which in turn makes breakouts obvious to see. Also includes exploration to scan for stocks which bollinger band is tightening. Please note bollinger band does not indicate the direction of the potential forthcoming breakout, need in combination with other indicators to determine breakout direction.


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Indicator / Formula

Copy & Paste Friendly
Length = 14;
Price = EMA(Close, Length);
// Keltner 
kLength = Length;
kN = 1.5;
kATR = ATR(kLength);
kUpper = Price + kN * kATR;
kLower = Price - kN * kATR;
// Bollinger
bbLength = Length;
bbN = 2;
bbStDevValues = StDev(Close, bbLength);
bbUpper = Price + bbN * bbStDevValues;
bbLower = Price - bbN * bbStDevValues;
IsBBSqueeze = bbUpper <= kUpper AND bbLower >= kLower;

Proportion = (kUpper - kLower) / (bbUpper - bbLower);
BBBreakout = Cross(1,Proportion); 
Periods = Param("BBPeriods", 14, 2, 300, 1 );
Width = Param("Width", 2, 0, 10, 0.05 );
Color = ParamColor("Color", colorCycle );
Style = ParamStyle("Style");
bbtop=BBandTop( C, Periods, Width );
bbbot=BBandBot( C, Periods, Width );
Plot(bbtop, "", Color, Style ); 
Plot(bbbot , "", Color, Style );


PlotOHLC( bbtop,bbtop, bbbot,bbbot, "",IIf(IsBBSqueeze,colorYellow,colorWhite), styleCloud|styleNoRescale,  Null, Null, Null, -1 );

Filter = BBBreakout;

AddColumn(BBBreakout, "BB Breakout", 1, colorWhite, IIf(BBBreakout==1, colorRed, colorWhite));
//set default sorting to Date/time in descending order in results window


1. esy

Hi IG,
line 33 col128 error 16 too many arguments
can u help me out please


2. lgmqy2000

esy, sry not sure about the error. No errors for me running with latest version of AB.

3. kash4u213

esy ,

i think u have to wrap the code.

4. niftytiger

Very gud indicator

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