Indicators: HLBands

[Automated-Trading]

HLBands:

An indicator of daily levels. it has three input parameters:

• Bands period - the period of displayed levels;
• Bands Update - mode for updating levels:
  • at the opening of the bar - only the current bar of the selected timeframe is updated, after that levels remain unchanged on all bars of the selected period;
  • always - levels are updated when the price exceeds previous levels, i.e. minimum/maximum levels for the whole period are shown.
• Bands Applied price - the open line of the selected period is always displayed, you can choose between two level display modes: the High/Low levels of candlesticks and the Open/Close levels of candlesticks.

Author: Scriptor