The Advanced Bands indicator is a custom indicator based on
the classic Bollinger Bands as created by John Bollinger. Generally, Bollinger
Bands are created by adding/subtracting a number of standard deviations from
the price. Advanced Bands also creates bands the same way and adds more
features to be more useful for traders.
FEATURES
- Three levels of bands (inside, outside, extreme)
and a moving average can be plotted. - Area between bands can be filled and
highlighted. - Number of deviations for each band can be
changed. - Customizable color, size, and visibility of
all GUI objects. - Bands and Price crossings can be shown on
the chart - Trade signals are calculated and can be set
to trader in many ways. - Indicator statistics are managed and can be
shown on the chart.
PARAMETERS
The Advanced Bands indicator has many configurable
parameters. This allows for all aspects of the indicator to be changed for the
user’s preferences. By default, the indicator is designed to work without any
changes by the user. The parameters are divided into the following categories:
- Indicator Parameters
- Bollinger Bands Parameters
- Indicator Statistics Parameters
- Inside Bands Parameters
- Outside Bands Parameters
- Extreme Bands Parameters
- Moving Average Band Parameters
- Crosses Parameters
- Signals Parameters
- Message Parameters
- Quiet Time Parameters
- Debug Parameters
It should be noted that the user does not have to change any
parameters for the indicator to work. All parameters have default values that
have the lowest impact on the indicator and user. The Advanced Bands indicator
is designed to work perfectly by just placing it on a chart.