Having Trouble Adding Volatility Stop Bands to Price Chart?
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Hi there,
I coded some Volatility Stop Bands and it shows up as an indicator in the lower pane (pls see image) but not on the main price chart?
I think the coding’s correct, the idea grabbed from an article called “Maximising Risk-Adjusted gains with Trade Management – Trading Recipes” was:
“Each day divide the close by its 144-day simple moving average. The result is a relative strength indicator we can call R. Take a 21-day simple moving average of R. Plot bands at intervals 3% above and below the 21-day smoothing. If R drops below the lower band, exit the trade on tomorrow’s open.”
Any ideas?
Cheers
Bard//R is a Relative Strength Volatility Stop Indicator //---Settings CloseMAPeriod = 144 RMAPeriod = 21 UpperValue = 3.0 //"Upperbands %" LowerValue = 3.0 //"Lowerbands %" //---end of settings R=Close/Average[CloseMAPeriod] RAve = Average[RMAPeriod](R) VolStop = Rave UpperBand = VolStop * UpperValue / 100 LowerBand = VolStop * LowerValue / 100 RETURN VolStop+UpperBand as "Volatility Upperband",VolStop-LowerBand as "Volatility Lowerband"I have created an easier to read version by normalising the upper band as 100 and the lower as 0. Top indicator in the image is this new version with the original at the bottom.
//R is a Relative Strength Volatility Stop Indicator //---Settings CloseMAPeriod = 144 RMAPeriod = 21 UpperValue = 3.0 //"Upperbands %" LowerValue = 3.0 //"Lowerbands %" //---end of settings R=Close/Average[CloseMAPeriod] RAve = Average[RMAPeriod](R) UpperBand = RAve * (1 + (UpperValue / 100)) LowerBand = RAve * (1 - (LowerValue / 100)) RValue = ((R - lowerband) / (upperband - lowerband)) * 100 RETURN 100, 0, RValue as "R"Bard thanked this post
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Topic Details
| Forum: | ProBuilder: Indicators & Custom Tools |
| Language: | English |
| Started: | 07/14/2019 |
| Status: | Active |
| Attachments: | 2 files |
