OPEN-SOURCE SCRIPT
DEnvelope [Better Bollinger Bands]
*** [Updated July 11, 2014: See below for DEnvelope %B and Bandwidth scripts to go along with this DEnvelope] ***
Bollinger Bands (BB) usually expand quickly after a volatility increase but contract more slowly as volatility declines. This extended time it takes for BB to contract after a volatility drop can make trading some instruments using BB alone difficult or less profitable.
In the October 1998 issue of "Futures" there is an article written by Dennis McNicholl called "Better Bollinger Bands", in which the author recommends improving BB by modifying:
- the center line formula &
- different equations for calculating the bands.
These bands, called "DEnvelope", follow price more closely and respond faster to changes in volatility with these modifications.
Fore more indicators, check out my "Master Index of indicators" (Also check my published charts page for new ones I haven't added to that list):
tradingview.com/v/4IneGo8h/
More scripts related to DEnvelope:
------------------------------------------------
- DEnvelope Bandwidth: pastebin.com/jz6QL45G
- DEnvelope %B : pastebin.com/r4XfrDvd
Sample chart with above indicators: tradingview.com/v/dK1uhbN8/
Bollinger Bands (BB) usually expand quickly after a volatility increase but contract more slowly as volatility declines. This extended time it takes for BB to contract after a volatility drop can make trading some instruments using BB alone difficult or less profitable.
In the October 1998 issue of "Futures" there is an article written by Dennis McNicholl called "Better Bollinger Bands", in which the author recommends improving BB by modifying:
- the center line formula &
- different equations for calculating the bands.
These bands, called "DEnvelope", follow price more closely and respond faster to changes in volatility with these modifications.
Fore more indicators, check out my "Master Index of indicators" (Also check my published charts page for new ones I haven't added to that list):
tradingview.com/v/4IneGo8h/
More scripts related to DEnvelope:
------------------------------------------------
- DEnvelope Bandwidth: pastebin.com/jz6QL45G
- DEnvelope %B : pastebin.com/r4XfrDvd
Sample chart with above indicators: tradingview.com/v/dK1uhbN8/
开源脚本
本着真正的TradingView精神，此脚本的作者已将其开源，以便交易者可以理解和验证它。向作者致敬！您可以免费使用它，但在出版物中重复使用此代码受网站规则约束。 您可以收藏它以在图表上使用。
List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
List of my indicators at Appstore: blog.tradingview.com/?p=970
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