ImpBB

Standard indicator Bollinger Bands (Eng. Bollinger Bands) is calculated based on only 7 price constants and the simple moving average (SMA). This modification makes it possible to count indicator based on any combination of 4-x basic price: Close, Open, High and Low.

An added convenience is a choice of 6-averaging methods: simple (SMA), the exponential (EMA), smoothed (SMMA), linear-weighted (LWMA), double exponential (DEMA), triple exponential (TEMA).

Input parameters:

• Period - averaging period for calculating the indicator;


• Shift - shift indicator relative to the price chart;


• Deviation - the standard deviation;


• Moving Average mode - averaging method: a simple (Simple, SMA), the exponential (Exponential, EMA), smoothed (Smoothed, SMMA), linear-weighted (Linear Weighted, LWMA), double exponential (Double Exponential, DEMA) or triple exponential average (Triple Exponential, TEMA);


• Close - CLOSE weighted price index to calculate individual prices;


• Open - weighting OPEN prices to calculate individual prices;


• High - weighted price index HIGH to calculate individual prices;


• Low - LOW price weighting coefficient for the calculation of individual price.

Example 1. Calculate the price indicator for OPEN: Close = 0, Open = 1, High = 0, Low = 0.

Example 2. Calculate the price indicator WEIGHTED: Close = 2, Open = 0, High = 1, Low = 1.

Example 3. Calculate indicator on individual pricing constant: Close = 6, Open = 7, High = 1, Low = 3. Price = (6 * Close + 7 * Open + 1 * High + 3 * Low) / 17.

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