Hello Everyone,

I was wondering if anyone can convert the following code into ProRealTime. The indicator is called Modified Bollinger Bands. The code is from Perry Kaufman’s book (Trading Systems and Methods – 5th Edition) and is in TradeStation Language. I also have attached the original text from the book for the better understanding of the code as everything is explained in more detail. Anyone, who can convert the code into ProRealTime, will be highly appreciated.

Thank you.

Regards,
Maisam

Indicator Code:

{ TSM Bollinger Modified
from “Better Bollinger Bands” by Dennis McNicholl, “Futures,” October 1998
Copyright 2011, P.J.Kaufman. All rights reserved. }

inputs: period(20), factor(2.0);
vars: alpha(0), mt(0), ut(0), dt(0), mt2(0), ut2(0), dt2(0), but(0), blt(0);

{ smoothing constant }
alpha = 2/(period + 1);

mt = alpha*close + (1 – alpha)*mt;
ut = alpha*mt + (1 – alpha)*ut;
dt = ((2 – alpha)*mt – ut)/(1 – alpha);
mt2 = alpha*absvalue(close – dt) + (1 – alpha)*mt2;
ut2 = alpha*mt2 + (1 – alpha)*ut2;
dt2 = ((2 – alpha)*mt2 – ut2)/(1 – alpha);
but = dt + factor*dt2;
blt = dt – factor*dt2;

plot1(dt,”center”);
plot2(but,”upper”);
plot3(blt,”lower”);

Modified-Bollinger-Bands-2.jpg Modified-Bollinger-Bands-3.jpg