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2010.03.03 08:44
KoliEr Bands, Bollinger Bands ®

KoliEr Bands, Bollinger Bands ® - indicator for MetaTrader 4

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Author:

KoliEr Li (http://kolier.li)

Description:

KoliEr Bands give you a step by step view for support and resistant levels.

If Bollinger Bands is Batman, KoliEr Bands is Robin.

Use them together.

Red and solid lines is KoliEr Bands.

Blue and dot lines is Bollinger Bands

Logic:

Use the average value of the highest and lowest price from the period bar to now as Center Line.

Upper and Lower bands are Deviation of close price.

Image:



Parameters:

  • extern string IndicatorName = "KoliErBands";
  • extern int BarsToCount = 0; // Set to 0 to count all bars
  • extern int KB_Period = 14; // Peroid of KoliEr Bands
  • extern int KB_Deviation = 2; // Deviation Level
Last comments | Go to discussion (1)
KoliEr Li
kolier1 | 7 Mar 2010 at 11:21

Some People send mail to ask me what's the difference between KoliEr Bands and Bollinger Bands.

BB: The Center main line is moving average, upper and lower lines are the deviation of close price and the main line.

KB: The Center main line is the average of the highest price and lowest price in the period, upper and lower lines are the deviation of close price and the main line.