This indicator is the classical Bollinger Bands but built upon a ZeroLag exponential average and not with the original 20 periods SMA. The ZeroLag EMA is a variation of the EMA but add momentum short term weight of price to reduce lag.
Coded by request on the English forum.
|
1 2 3 4 5 6 7 8 9 10 11 12 |
// parameters // period = 20 // dev = 2.0 lag = ROUND((period-1)/2) data = (close + (close-close[lag])) ZLEMA = exponentialaverage[period](data) BolUp = ZLEMA+STD[period]*dev BolDn = ZLEMA-STD[period]*dev RETURN ZLEMA as "ZeroLag EMA", BolUp as "Bollinger Up ZLEMA", BolDn as "Bollinger Down ZLEMA" |
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
Like your zero lag indicators.