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Hi all,
Thank you all for your replies.
First of all, I would like to know if you have received the screenshot
? (I had attached it with my message but I have not received it in my
mail client, strange........).
If not, the name of the stock is "Brush Engineered Materials Inc"
(ticker : BW), weekly time frame, early 2003.
To code the flatness of the Bollinger Bands, I first used the "Linear
Regression Slope" indicator (length 6) so as to calculate the angle,
then I also used the momentum but unfortunately the results are not
evidential...
A true baffling problem !!!
Thanks for your help,
S4
P.S : Pumrysh : I can not check the message 20284 because I only use my
mail client to see the messages. Might you post it again ?
Tia
steven a écrit :
Hello S4,
Here are some questions:
- how far back do you want to go. You have to go at least 1 bar back
but
you could go many, especially if you are trading on a short time frame.
Also, you could make an indicator that is a blend of various time
frames.
Slope by its nature has to top out at or before 90 degrees if you
measure it
as an angle. If you chart it, it will go from a high of +90 and a low
of
-90.
Or you can take the raw price differential as a number.
You need to take the Upper Bollinger and the Lower Bollinger one at a
time.
Find the Slope of the Upper Bollinger (use Regression Line - I believe
that
is correct...may be similar wording). Or you can just measure
upperBB_NOW
minus upperBB_01hourago or other time frame. For example, 1.2222 is
what it
was an hour ago.
Now it is 1.2242, or 20 pips higher measured on the Bollinger, not the
price.
So, the Bollinger is angling up.
Repeat this process for the Slope of the Lower Bollinger.
Use the Upper Bollinger bending up at a large angle to be an indication
of a
LONG trade.
Use the Lower Bollinger bending down at a large angle to be an
indication of
a SHORT trade.
Use a flat Bollinger as price is crossing over to be a probable bounce.
Meaning: if we are seeing the price touch the bottom and drift up and
beginning to touch the top Bollinger, if it is flat, we can expect it to
reverse in the area near the Bollinger.
There will be areas that are neither steep enough to indicate a break
out or
flat enough to indicate a ranging area. Use this as an indication to
stay
out of the market.
Hope this gets you enough to start coding,
Steve AKA Forex5x
Hi all,
I would like to code the flatness of the Bollinger Bands (see the
screenshot below) .
I thought it was rather simple but as a matter of fact it is fairly
tricky !!!
Any help would be greatly appreciated,
Tia,
S4
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