Registered User
Joined: 10/12/2016
Posts: 5
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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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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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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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