Smoothed Bollinger %b indicator
November 12, 2015, 12:10 PM
Indicators
12 Comments
This is the modified % bollinger bands oscillator remade by Sylvain Vervoort. It’s using an Heiken Ashi closing price instead of the classic close value with TEMA average. This indicator tend to be more accurate and less choppy for intendifying turning points of the Dow theory by counting reverse oscillation of the curve.
Because of its bounded values, it can be used as an overbought and oversold classical oscillator.
// variables :
// period = 18
// TeAv = 8
// afwh = 1.6
// afwl = 1.6
// afwper = 63
haOpen = ((Open[1]+High[1]+Low[1]+Close[1])/4 + (Open[2]+High[2]+Low[2]+Close[2]))/2
haC = ((Open+High+Low+Close)/4 + haOpen + Max(high,haOpen) + Min(low,haOpen)) /4
TMA1 = tema[TeAv](haC)
TMA2 = tema[TeAv](TMA1)
Diff = TMA1-TMA2
ZlHA = TMA1+Diff
percb = (tema[TeAv](ZLHA)+2*STD[period](tema[TeAv](ZLHA))-weightedaverage[period](tema[TeAv](ZLHA))) / (4*STD[period](tema[TeAv](ZLHA)))*100
hi = 50+afwh*STD[afwper](percb)
lo = 50-afwl*STD[afwper](percb)
RETURN percb as "SVE BB %b", hi as "upper band", lo as "lower band", 50 as "middle"
Download
Filename:
SVE_BBb.itf
Downloads:
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