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Worden Discussion Forum » Customer Training & Support » PCFs, EasyScan and Custom Indicators » Formula based on BBW

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betoune
Posted : Sunday, November 20, 2016 7:30:50 AM
Registered User
Joined: 10/12/2016
Posts: 5

Hello,
I would like to create an indicator that I would call "Low Volatitily" which uses the Bollinger Band Width (one could write it: BBW20.1 for the previous day) and its moving average over 200 periods. If there are no 200 history periods, the indicator shows "False".
I am looking for a decrease of 40% (hardening of the tapes).
My formula would be: if periods> = 200; BBW20.1 <(AVG (BBW20.1) 200) * 0.6
Is it possible, if so, please give me the formula.
thank you in advance
Eric
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Bruce_L
Posted : Monday, November 21, 2016 9:34:43 AM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

I can't think of a way to do this as a formula in a way that would be short and fast enough to be practical.

What you can do is add a 200 period envelope channel to the Bollinger Bandwidth indicator with the Width (%) setting set to 40%. Then check for the Bollinger Bandwidth indicator to be below the bottom band of the envelope channel.

Create Conditions from Your Chart (5:25)


-Bruce
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