[EquisMetaStock Group] Kirschenbaum bands

[Brett Sinclair <brett_j_sinclair@xxxxxxxxx>]

Is anyone familiar enough with Kirschenbaum bands to code them in Metastock?
   
  For the curious, their description is as follows:
      Kirshenbaum Bands are constructed as follows: 

Calculate a P-Period Exponential Moving Average of the data based on the close. 

Then, for each bar, calculate the L-Period linear regression line, using today?s close as the endpoint of the line. (Note: The term ?linear regression? is the same as a ?least squares? or ?best fit? line in some textbooks.) 

Calculate d1, d2, d3, .. dL as the distance from the line to the close on each bar which was used to derive the line. That is, di = Distance from Regression Line to each bar?s close. 

Calculate the average of the squared errors: 

AE = (d12 + d22 + d32 + .. + dN2) / L 

Standard Error (Se) is the square root of this value: 

Se = square root of AE 

Then, if N = Number of Standard Errors, band width is: 

BW = N * SE 

Add and subtract the band width from the Exponential Moving Average to arrive at today?s value for the upper and lower bands. 

 
  They are similar to, but behave quite differently from Bollinger Bands.
   
  Thanks, Brett


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