MultiCharts - BWI-BB Band Width Indicator
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BWI-BB Band Width Indicator
This IS a pla file for Multicharts. The txt was furnished by TAMS which I then compiled in MC and exported as Pla file.

Here is information furnished in the code description area: "BB Band Width Indicator: created by John Bollinger,
of the Bollinger band and Bollinger Capital Management fame,
as presented by John Forman in the Nov.1994 issue of
"Technical Analysis of Stocks and Commodities".

Idea: BWI is a measure of a tradeable's ability/tendency to trend.
It is faster than an ADX, in that it will move earlier and reset itself earlier too.
When the BWI is low, the volatility is low. ie. there isn't any trend.
When it has a positive slope, there is a trend.

I have added the following enhancements:
1. up/down colors for easy directional identification
2. option to use Exponential Average"


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July 8th, 2009
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