Modified Bollinger Bands

Forums ProRealTime English forum ProBuilder support Modified Bollinger Bands

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  • #89090

    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”);

    #89213

    It is called the Better Bollinger Bands, available here: Better Bollinger Bands

    #89283

    @Nicolas

    Thanks very much.

    Regards,
    Maisam

Viewing 3 posts - 1 through 3 (of 3 total)

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