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Advanced Bollinger Band indicator - does it exist ?
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Advanced Bollinger Band indicator - does it exist ?

  #31 (permalink)
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madLyfe View Post
will u update in the downloads section once you've recoded it? ;-)

I update all indicators in the download section, when I have recoded them. But I have a huge backlog now, it won't be tomorrow for the Bollinger Bands.

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  #32 (permalink)
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Fat Tails View Post
I disagree, yours has more bands, so it is not comparable. Also my indicator is quite old, I guess I will recode it, as I have made some progress in coding since. I always feel ashamed if I read what I have coded one year ago...

I do the same thing. I look at my old code and wonder what was going through my mind at the time.

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  #33 (permalink)
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MWinfrey View Post
I do the same thing. I look at my old code and wonder what was going through my mind at the time.

Hmmm, so what does it mean if you look at your CURRENT work and wonder what is going through your mind?

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  #34 (permalink)
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forrestang View Post
Hmmm, so what does it mean if you look at your CURRENT work and wonder what is going through your mind?

You are always proud of your current work. The problem only occurs, if you review it a few days or months later and think "who is the stupid guy who had coded that piece of junk" - and then you discover it was yourself.

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  #35 (permalink)
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Tested and looking good - many thanks

@forrestang - tested and looking good - many thanks.

I use it to catch spiky turning points - usually set the period on the 4 way BB to the same number of bars as are on the chart - working well.

@Fat Tails - if you ever fancy doing a normalized ROC indicator i.e. vertically scaled in standard deviation units, if it's really easy, then that would be a really cool addition at some point. (I would use that one as an input to the market analyzer)

Thanks again all !!

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  #36 (permalink)
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Update Bollinger Universal Indicator

Have now updated the Bollinger Universal Indicator. Here are the features:

- The midband can be selected from a moving median, a moving mode or 27 different moving averages.

- Midband and channels can be smoothed.

- The period for the standard deviation can be different from the period for the moving average.

- The indicator has an option to display the channels or the midband individually.

- All plots can be colored according to their slope, or alternatively all plots can be colored according to the slope of the midband.

- The slope color includes a neutral slope, which can be adjusted via a threshold.

- The area between the Bollinger Bands can be shaded, shading may increase the CPU load.

The indicator can be found here:

https://futures.io/download/ninjatrader-7/indicators/626-download.html?view


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  #37 (permalink)
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Question on "neutral threshold"

@Fat Tails

I could not find a thread dedicated to your specific indicator so I am happy to move or have @Big Mike move this to the right spot.

I noticed a setting on your anaBollingerUniversal for a neutral threshold. Here is a pic, the questions included.

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wldman View Post
@Fat Tails

I could not find a thread dedicated to your specific indicator so I am happy to move or have @Big Mike move this to the right spot.

I noticed a setting on your anaBollingerUniversal for a neutral threshold. Here is a pic, the questions included.

The neutral color just refers to the slope of the lines. I had been annoyed by all these false slope and angle indicators, which do not correctly show momentum relative to the chart scales. I have therefore coded an indicator which shows a neutral zone (slope close to zero) across all instruments and timeframes. The steepness measured by this indicator is normalized. You can apply it to a daily chart of YM or a 1-min chart of 6E and will always get a correct result for the relative slope of the lines. Try to do that with anyone of the many angle indicators and compare the results.

The Bollinger Universal has the option to measure a neutral zone for each of the three bands, or you can set it to midbandslope. In that case it will measure the slope of the moving average, which is used as a midband.

A yellow midband means that there is no strong trend but indecision. Now when there is a squeeze, that means that the directional movement has come to a halt, so you may expect a yellow area. This is like an unstable equilibrium. The color that follows indecision will then show the direction of the short term momentum, which would be the direction to enter your trade.

The chart attached gives an example, I have set the Bollinger Universal to MidBandSlope. The indicator below is the standard Bollinger Squeeze (Bollinger Bands inside the Keltner Channels).

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  #39 (permalink)
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Thank you again.

I have not updated to V.4 yet. Do you reccomend that I do that?

I understand what you have provided and I think that will be very useful.

How am I to interpret a numerical setting for "Neutral Threshold"? A larger number creates a larger neutral colored region. I see slope as a percentage of atr but I am not sure what that means. Could you describe that for me please?

Thanks Harry.

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So thinking....


out loud on this. A bollinger band that was color coded based on the relative width between or the convergence/divergence of the bands would be a measure of short term relative volatility. That could also be used like the squeeze is to refine out periods of non-entry?

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