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The following relates to version 4.36.0, but no doubt is relevant to earlier
editions as well.
I don't ordinarily have Bollinger bands on the chart, and so had not looked
at the settings on the Preferences page in a long time. It came as a
surprise to see that the width setting for BBands is calibrated in percent,
rather than multiples of the standard deviation. This is not explained in
the documentation, even online, so far as I could find. Best guess: The
percentage is the fraction of values that will be found between the upper
and lower band; thus a setting of 95 would equal 1.96 in a conventional
setting--close enough for government work, though I'm not enough of a
statistician to figure out the equivalent of 1.8, which is what I really
wanted.
The one flaw in this interpretation appears when the Amibroker chart is
compared with a Metastock chart of the same data. On AB, the S&P spends a
lot more time outside the upper and lower bands than it does with MS, given
identical moving averages and settings of 95 in AB and 2 standard deviations
in MS.
In short, I'm confused. Can anyone clear this up for me?
Many thanks.
Owen Davies
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