[amibroker] Plotting Price Bands

["mo_means_go" <mo_means_go@xxxxxxxxx>]

Hi all,

I'm attempting to plot 21 day price bands using some width parameter
based on the ATR.  However, the code below produces a continuous plot
which looks like a price channel.  I only want to plot the horizontal
channel if the range is tight, looking for breakouts from horizontal
consolidation patterns.  My sense is my logic is wrong based on not
fixing the value of the top and bottom channel lines.  They are
dynamic.  Any thoughts?  Thanks.

Code:

BBand = Ref(LLV(L,21), -1);
TBand = Ref(HHV(H,21), -1);
Range = ATR(21);
Test = IIf((TBand - BBand) < Range, 1,0);
if(Test = 1){
Plot(BBand, "BBand", colorRed, styleThick);
Plot(TBand, "TBand", colorRed, styleThick);
Buy_Test = IIf(C > TBand, 1, 0);
Buy = Buy_Test AND C >2 AND C < 30 AND MA(V,40) > 50000;
}



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