BB MACD (Bollinger Bands on MACD)
October 16, 2017, 11:12 AM
Indicators
10 Comments
Bollinger Bands on MACD, with different settings you’ll find many ways to use it (mean reverting or with breakout the upper and lower bands).
The MACD line is plotted with blue and red dots as per the original indicator (this one is a conversion from a MT4 one requested by one of our member).
//PRC_BB MACD CCT | indicator
//16.10.2017
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge
//converted from MT4 version
// --- settings
//FastLen = 38
//SlowLen = 120
//Length = 20
//StDv = 1.1
// --- end of settings
bbMacd = average[FastLen,1]-average[SlowLen,1]
avg = average[Length,1](bbMacd)
sDev = std[Length](bbMacd)
UpperBand = avg+(StDv*sDev)
LowerBand = avg-(StDv*sDev)
if bbMacd>bbMacd[1] then
r=0
b=205
else
r=255
b=0
endif
drawtext("●",barindex,bbMacd,Dialog,Bold,10) coloured(r,0,b)
return UpperBand coloured(0,0,205) style(line), LowerBand coloured(255,0,0) style (line)
Download
Filename:
PRC_BB-MACD-CCT.itf
Downloads:
947
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