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Special Bollinger Bands Indicator

  • Post #1
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  • First Post: Edited Nov 18, 2012 4:10pm Nov 17, 2012 3:59pm | Edited Nov 18, 2012 4:10pm
Hi guys .

I couldn't find a proper thread to post this one so I started a new one. If anyone knows one please guide me to post this one there.

I have created the following Multi Currency Bollinger Bands Indicator.
You can select which 10 currencies to view as well as the MA period and number of deviations.

What it gives you is
1) How wide the Bands have been in pips for the last 7 periods in order for you to measure volatility , find if there is a squeeze or a breakout occurring.

2) The location of the market price within the bands for the last 7 periods (0% meaning is at the bottom band, 100% at the top band). This can help you spot if a bollinger bounce is about to happen.

You can get it and read more about it here.

http://www.theforexcabin.com/trading...-bands-trader/

Let me know what you think.
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Please explain 7 last period lag 1,2,3 etc. what is the meaning of these.
Hi ,cant seem to pick it upin my indi folder once ive placed it there when ive reopened chart . anybody else have this prob?
Hi orionfx

lag1 means what happened the previous period. lag2 what the happened 2 periods ago etc.
The period length is the time-frame you selected . if you selected 1hour then lag1 what happened 1 hour ago, lag2 what happened 2 hours ago.

In this way you can monitor what the monitor what the indicator tells you over time.
Quoting fylaxtas
Hi orionfx

lag1 means what happened the previous period. lag2 what the happened 2 periods ago etc.
The period length is the time-frame you selected . if you selected 1hour then lag1 what happened 1 hour ago, lag2 what happened 2 hours ago.

In this way you can monitor what the monitor what the indicator tells you over time.
Thanks mate for your advice.
Hi fylaxtas, please check your email.
  • Post #7
  • Quote
  • Last Post: Dec 12, 2012 3:50am Dec 12, 2012 3:50am
This one is awesome! A very creative way to monitor the Bollinger Bands indicator and identify Bounces, Squeezes and Volatitily .
Will definitely use it a lot!

Quoting fylaxtas
Hi guys .

I couldn't find a proper thread to post this one so I started a new one. If anyone knows one please guide me to post this one there.

I have created the following Multi Currency Bollinger Bands Indicator.
You can select which 10 currencies to view as well as the MA period and number of deviations.

What it gives you is
1) How wide the Bands have been in pips for the last 7 periods in order for you to measure volatility , find if there is a squeeze or a breakout occurring.

2) The location of the market price within the bands...
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