BollingerBandWidth indicator with up and down colors

November 17th, 2014, 01:25 PM

I'm struggling with trying to modify the BollingerBandWidth indicator to plot green when it's going up and red when it's going down. This admittedly my first time trying to modify an indicator and I have no background in programming.

Any help could be greatly appreciated.

This is the original indicator:

Download: Bollinger Band Width

this is a simple bollinger band width indicator. when the line is low indicates a sqeeze on the bollinger according to recent band history. its a nice visual if that's part of your trading system. in the pic, the bollinger indicator is the bband2 …

greathopes

November 17th, 2014, 02:18 PM

I think I found something that will work instead. I'll just do a EMA of 1 and then plot red/green based on the last value. Thanks anyway - I hope nobody wasted too much time.

November 17th, 2014, 05:00 PM

Try this from Fat Tails.

Download: Bollinger Universal V4

Exported using NT version 7.0.1000.27 This is a generalized version of the Bollinger Bands with a few options added: - The midband can be selected from a moving median, a moving mode or 27 different moving averages. - Midband and channels can …

Fat Tails

November 17th, 2014, 05:53 PM

Hello @RMorgan,

Anyway I�ll waste a little time. You add the indicators in the Initialize() method:

protected override void Initialize()
{
Add(ATR(ATRPeriod));
Add(EMA(EMAPeriod));
Add(Bollinger(numStdDev, BPeriod));
�
}

In order to set colours, you reference indicators by �this.Indicators� collection in the same order you added them. If the indicator has several lines, you reference them by �this.Indicators[N].Plots� collection. Have a look:

this.Indicators[0].Plots[0].Pen.Color = Color.FromArgb(R, G, B); // ATR
this.Indicators[1].Plots[0].Pen.Color = Color.FromArgb(R, G, B); // EMA
this.Indicators[2].Plots[0].Pen.Color = Color.FromArgb(R, G, B); // Bollinger 1
this.Indicators[2].Plots[1].Pen.Color = Color.FromArgb(R, G, B); // Bollinger 2
this.Indicators[2].Plots[2].Pen.Color = Color.FromArgb(R, G, B); // Bollinger 3

I�m not sure but I think �this.Indicators[2].Plots[0]� corresponds to middle Bollinger band, �this.Indicators[2].Plots[1]� to upper band and ��this.Indicators[2].Plots[2]� to lower band.

November 18th, 2014, 01:52 AM

I should also like to add that the �decoration� can take place in the indicator itself or in the strategy. In the former case you have to change the indicator code, so you have to create and maintain a new version (or several). In the latter case you do it in the strategy.

It depends on the circumstances, in both cases you add one or two lines of code. I tend to decorate in the strategy, it�s more flexible.

BollingerBandWidth indicator with up and down colors

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BollingerBandWidth indicator with up and down colors