Projection Bands were developed by Mel Widner, Ph.D. They were originally introduced in the July 1995 issue of Technical Analysis of Stocks & Commodities magazine.
Projection Bands are similar in concept to other types of bands. They also share some of the characteristics of channel lines such as Raff Regression Channels.
Projection Bands are plotted by finding the minimum and maximum prices over the specified number of days and projecting these forward (parallel to a linear regression line). The resulting plot consists of two bands representing the minimum and maximum price boundaries.
Prices will always be contained by the bands, unlike Bollinger Bands.
Parameters
Period (n = 14)
|
1 2 3 4 5 6 7 8 9 10 11 12 13 |
REM Parameters: REM Nbr of Periods (n = 14) LS = LINEARREGRESSIONSLOPE[n](HIGH) ub = HIGH lb = LOW FOR k = 1 TO n ub = MAX(ub, HIGH[k] + k * LS) lb = MIN(lb, LOW[k] - k * LS) NEXT RETURN ub, lb |
Share this
No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.
ProRealTime ITF files and other attachments :
Filename : download the ITF files
Find other exclusive trading pro-tools on 
PRC is also on YouTube, subscribe to our channel for exclusive content and tutorials
