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Scan Condition Bollinger Bands Rate this Topic:
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BDRPPLIR
Posted : Saturday, January 11, 2014 3:10:54 PM
Registered User
Joined: 4/15/2007
Posts: 73

I have created a scan condition for price closing above and below 2 SD Bollinger Bands on a daily chart.

This picks up only events that happen today. I would like to extend the condition to identify closes that qualify in the last 5 days. Is that possble?

Bruce_L
Posted : Monday, January 13, 2014 12:26:54 PM


Worden Trainer

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

Add a Bollinger Bands %B indicator to the chart with the same settings as your Bollinger Bands. Then add Donchian Channels to the Bollinger Bands %B indicator with the Period of the Donchian Channels set to 5 and the Offset of the Donchian Channels set to 0.

Adding and Moving Indicators

Then click on the Donchian Channels and select Create Scan Condition for Chan Bottom - Less Than: 0.

Create Conditions from Your Chart

You can delete the Bollinger Bands %B indicator and Donchian Channels from the chart once you have created and saved the condition.



-Bruce
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