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Steve/
Isn't that just a variation of the Bollinger %B oscillator? The
following should give the same values as on the marketplayer.com site.
Pds:=Input("Periods?",2,1000,20);
((C+2*Std(C,Pds)-Mov(C,Pds,S))/(4*Std(C,Pds)))*4-2
Plot it histogram style and put in horizontal lines at +2 and -2.
Harvey Pearce, Victoria, B.C,, Canada
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Steve Karnish wrote:
>
> There seems to be very little written about Bollinger Bands.
> The 32 page booklet is rather "thin". A few sites (i.e.,
> marketplayer.com) have reconstructed Bollinger Bands into a
> histogram. In this representation: the mean becomes a zero
> basis line and the standard deviations are parallel to the zero
> line. The price is then plotted in relation to the mean and the
> standard deviations. The same information gives you a different
> look and extensions beyond the standard deviations seem to be
> more symmetrical. There seems to be some interesting support
> and resistance that's not apparent when looking at the classic
> Bollinger Bands.
>
> A couple of months ago, I asked for help on constructing this
> Bollinger Band Histogram and received 3 or 4 replies (many
> thanks). I tried all the advice, but, could never recreate the
> histogram. I still am very interested in this variation. I
> believe this approach is a simpler and clearer graphic
> representation of Bollinger's formula. Any suggestions or help
> on the formula would be greatly appreciated.
>
> Steve Karnish
> CCT
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