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Theory :
The Kirshenbaum Bands were authored by Paul Kirshenbaum. Their range is based on standard error as calculated from a hypothetical linear regression line. This range is added to and subtracted from an exponential moving average of the price to produce a top and a bottom band.
As a deviation from the original, you can chose one of the 4 types of average to sue instead of using just EMA. Averages that can be used are :
- simple moving average
- exponential moving average
- smoothed moving average
- linear weighted moving average
Usage :
It can be used in a similar way as Bollinger bands
