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Trend Band Indicator
February 15, 2022, 9:04 AM
Indicators
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This indicator shows a trend band of the price with variable indicator parameters to control the bandwidth.
p = 5 //percent bandwidth
q = 3 //channel percent bandwidth
MyHigh = close + close * p/100
MyLow = close - close * p/100
ONCE AFR = close
IF MyLow > AFR THEN
AFR = MyLow
ENDIF
IF MyHigh < AFR THEN
AFR = MyHigh
ENDIF
IF AFR = AFR[1] THEN
r=0
g=0
b=0
ELSIF AFR > AFR[1] THEN
r=0
g=153
b=255
ELSE
r=255
g=0
b=255
ENDIF
IF close > AFR THEN
DRAWSEGMENT(barindex, high, barindex, low) coloured(0,0,255)
DRAWPOINT(barindex, close, 1) coloured(0,0,255)
ELSE
DRAWSEGMENT(barindex, high, barindex, low) coloured(255,0,255)
DRAWPOINT(barindex, close, 1)coloured(255,0,255)
ENDIF
RETURN close, AFR, AFR + AFR * q/100, AFR - AFR * q/100
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Filename:
Trend-Band-indicator.itf
Downloads:
102
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