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Here is a Link that may help http://boogster.net/blog/?p=2801
also I found this.
For anyone interested I made a small change to the indicator(s) above.
I found that the indicator displayed fine for ES, YM etc but screwed
up for FX -
this is due to the number of decimal places used by the symbol.
I just added a multiplier so the indicator is normalised across all
symbols.
Add the following lines...
Vars: LHMult(0);
if ( barnumber=1 ) then Begin
LHMult=pricescale/minmove;
end;
And modify the following line so that it includes the LHMult variable...
Plot3(value2*LHMult, "NickmNxtMove", color);
}
{ Bolinger Band Squeeze (BBS) Indicator }
{ A variation of an idea by nickm001 (Originally coded by eKam) that
when Bollinger Bands (BB) fit inside
the Keltner Channel (KC), a breakout is about to occur. It works on
longer term charts, such as
15 minute to daily charts.
This code creates an indicator that plots the ratio of BB width to KC
width. When BB and KC widths are
the same, the ratio (BBS_Ind)is equal to one (1). When the BB width is
less than the KC Width (i.e. BB
fit inside KC), the BBS_Ind is less than one and a breakout is indicated.
An Alert Line is provided to indicate the level at which the trader
considers that the "sqeeze is on" and
a breakout is eminant.
Coded by Kahuna 9/10/2003
Added by eKam: 9/10/2003
The average of where price has been relative to the Donchian mid line
and Exponential average of the
same length is also plotted as an attempt to predict the direction of
the breakout.
Added 2/1/2005 For decreasing Delta bar....darker colors to highlight
the change.}
Inputs: {------------------------------------------------}
Price(Close),
Length(20), { Length for Average True Range (ATR) & Std. Deviation
(SD) Calcs }
nK(1.5), { Keltner Channel ATRs from Average }
nBB(2), { Bollinger Band Std. Devs. from Average }
AlertLine( 1 ), { BBS_Index level at which to issue alerts }
NormalColor( Red ), { Normal color for BBS_Ind }
AlertlColor( Blue ); { Color for BBS_Ind below alert line }
Variables: {---------------------------------------------}
ATR(0), { Average True Range }
SDev(0), { Standard Deviation }
BBS_Ind(0), { Bollinger Band Squeeze Indicator }
alertTextID(-1),
Denom(0),
LHMult(0);
if ( barnumber=1 ) then
Begin
If minmove <> 0 then
LHMult = pricescale/minmove;
end;
if barnumber = 1 and alertTextID = -1 then
alertTextID = Text_New(date,time,0,"dum my");
{-- Calculate BB Squeeze Indicator ----------------------}
ATR = AvgTrueRange(Length);
SDev = StandardDev(Price, Length, 1);
Denom = (nK*ATR);
If Denom <> 0 then
BBS_Ind = (nBB * SDev) /Denom;
If BBS_Ind < Alertline then
SetPlotColor(1, NormalColor)
else
SetPlotColor(1, AlertlColor);
{-- Plot the Index & Alert Line -------------------------}
Plot1(0, "BBS_Ind");
{-- Plot delta of price from Donchian mid line ----------}
value2 = LinearRegValue(price-((Highest(H, Length)+Lowest(L, Length))/2
+ xAverage(c,Length))/2,Length,0);
var:color(0); color = yellow;
if value2 > 0 then
if value2 > value2[1] then
color = green
else
color = darkgreen;
if value2 < 0 then
if value2 < value2[1] then color = red
else
color = darkred;
Plot3(value2*LHMult, "NickmNxtMove", color);
{plot3(value2,"BB Squeeze",color);}
{-- Issue Alert when the Squeeze is On ------------------}
if BBS_Ind crosses below AlertLine
and Text_GetTime(alertTextID) <> time then
begin
text_setLocation(alertTex tID, date, time, 0);
Alert("Check for Squeeze Setups on " + SymbolName);
end;
{-- Issue Alert when the Squeeze Releases ---------------}
if BBS_Ind crosses above AlertLine
and Text_GetTime(alertTextID) <> time then
begin
text_setLocation(alertTex tID, date, time, 0);
Alert("Squeeze is Over on " + SymbolName);
end;
if BBS_Ind crosses below AlertLine then
SetPlotColor(1, Green);
>
> I am interested in this too. In fact, if anyone has the default
> settings that Tradestation uses for its Keltner Channel and Bollinger
> Bands, I will try writing this one myself.
>
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