The Jurik Volatility Bands can be used for entries for trends by using the Zero line crosses whilst counter-trend trades can be made once the oscillator line is close to the outer bands.
It works in range-bound and trending markets. In fact it based upon a Jurik filter that act as upper and lower bands.
It is an all-in-one indicator for Scalping, Counter-trend trading, Trend trading and gauging the market’s movements.
Note from the author: When counter-trend scalping on the smaller timeframes this indicator can sometimes cause new traders to jump in too early. Rest assured, it’s a highly effective trading tool so if you do open a position early you’ll find that price will eventually correct and you’ll be able to close at break even or in profit.
Other description found on internet: “Jurik Volatility Bands is a volatility indicator, displaying price in the channel. Exit from the channel is impossible, while reversal from the borders is the signal for entering the market. The indicator is equipped with arrows for convenience. It is applicable for scalping and intraday trading. Arrows may appear earlier at scalping, so you need to wait for candlestick is closed.”
Translated from MQL4 version following a request made in the indicator’s English forum.
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//PRC_Jurik Volatility Bands | indicator //31.08.2020 //Nicolas @ www.prorealcode.com //Sharing ProRealTime knowledge //converted from MT4 //https://www.prorealcode.com/topic/jurik-volatility-bands/ //// --- settings Length = 14 Shift = 0 ShowMiddle = 1 ZeroBind = 1 Normalize = 0 // --- end of settings Price = customclose if barindex>Length then vprice = average[1](Price)[shift] cprice = average[1](Price) hprice = highest[length](vprice) lprice = lowest[length](vprice) len1 = Max(Log(Sqrt(0.5*(length-1)))/Log(2.0)+2.0,0) pow1 = Max(len1-2.0,0.5) del1 = hprice - bsmax[1] del2 = lprice - bsmin[1] volty = 0 if(Abs(del1) > Abs(del2)) then volty = Abs(del1) endif if(Abs(del1) < Abs(del2)) then volty = Abs(del2) endif vsum = vsum[1] + 0.1*(volty-volty[10]) avg = vsum avgLen=65 for k=1 to avgLen-1 do avg = avg+vsum[k] next avg = avg/k avolty = avg if avolty > 0 then dVolty = volty/avolty else dVolty = 0 endif if dVolty>exp((1/pow1)*log(len1)) then dVolty=exp((1/pow1)*log(len1)) endif if (dVolty < 1) then dVolty = 1.0 endif pow2 = exp(pow1*log(dVolty)) len2 = Sqrt(0.5*(length-1))*len1 Kv = exp(sqrt(pow2)*log(len2/(len2+1))) if (del1 > 0) then bsmax = hprice else bsmax = hprice - Kv*del1 endif if (del2 < 0) then bsmin = lprice else bsmin = lprice - Kv*del2 endif dnValue = bsmin upValue = bsmax miValue = (upValue+dnValue)/2.0 //// if (ZeroBind) then if (Normalize) then upValues = 1 dnValues = -1 diff = (upValue-miValue) if (diff <> 0) then price = (cprice-miValue)/diff else price = 0 endif else upValues = upValue-miValue dnValues = dnValue-miValue price = (cprice-miValue) endif else upValues = upValue dnValues = dnValue price = cprice endif if (ShowMiddle) then if (ZeroBind) then miValues = 0 else miValues = miValue endif endif endif return upValues coloured(0,191,255) as "up value", dnValues coloured(219,112,147) as "dn value", miValues coloured(105,105,105) style(dottedline) as "mi value", price coloured(0,191,255) style(line,2) as "price" |
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Thankyou so much Nicholas! Hopefuly this is the last piece of the puzzle. Many thanks!
Que buen contenido! No tienes alguno que me permita operar Order Flow? Gracias
Bjr Nicolas, merci pour cet indicateur interessant, mais en le recopiant pour creer un programme, probuilder m’indique que le terme “length” n’est pas approprié. Que faire? C’est bien un programme pour la version 10.3? Merci pour votre réponse,cdlt.
Il doit s’agir d’un mauvais copier/coller. Je suggère de télécharger le fichier itf contenu dans la page et de l’importer directement dans ProRealTime. C’est la meilleure façon de faire pour tous les codes présents dans la library. Merci.
Hello @Nicolas, I can get this to display in a separate indicator panel but not on Price as per you image? Any ideas? Cheers, https://www.dropbox.com/s/k1ujd14npgfzire/jvb.png
Hi @Nicolas, how can I put the bands on price?
Thanks,
Stefano