|
PureBytes Links
Trading Reference Links
|
Band Width Indicator: created by John Bollinger, of the Bollinger band and
Bollinger Capital Management fame, as presented by John Forman in the
NOv.1994 issue of "Technical Analysis of Stocks and Commodities".
Idea: BWI is a measure of a tradeable's ability/tendency to trend. It is
faster than an ADX, in that it will move earlier and reset itself earlier
too. When the BWI is low, there is low, there isn't any trend...When it has
a positive slope, there is a trend.
----------------------------------------------------------------------------
---------------
{User Function: BWI}
Inputs: Len (Numeric),Stdev1(Numeric),Stdev2(Numeric);
Vars: Upper(0),Lower(0),Avg(0);
Upper=BollingerBand(Close,Len,Stdev1);
Lower=BollingerBand(Close,Len,Stdev2);
Avg=Xaverage(Close,Len);
Bwi=(Upper-Lower)/Avg;
----------------------------------------------------------------------------
--------------
{indicator: BWI}
Inputs: Len(21),Stdev1(2),Stdev2(-2);
Plot1(BWI(Len,Stdev1,Stdev2),"BWI");
___________________________________________
"The mark of a successful commander is the ability to adapt
rapidly to the constantly changing conditions on the field of
battle."
-Carlo D'Este on Field Marshall Walter Model
|