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BB Trend Flat

The indicator determines trend/flat status of the market using Bollinger Bands.

Bollinger Bands diverge when the market moves sharply and converge when there is flat. The indicator uses this peculiarity. When the market is calm and distance between Bollinger Bands is less than some value, the indicator shows flat (gray histogram by default). When the market starts moving and divergence of Bollinger Bands exceeds this value, the indicator determines direction of the movement and shows an up trend (green histogram) or a down trend (red histogram).

To make the indicator independent from a timeframe, the indicator uses not an absolute distance between bands but the relative parameter "Flat factor".


Parameters:

  • BB Period – period of Bollinger Bands.
  • BB Deviation – Bollinger Bands deviation.
  • Flat factor – parameter determining flat. The bigger the parameter, the bigger is the flat zone displayed by the indicator.
Eleni Anna Branou
3621
2017.02.11 17:41 
 

User didn't leave any comment to the rating

Maksym Mudrakov
9722
2016.08.30 12:09 
 

User didn't leave any comment to the rating

Nesho Marinov
737
2015.08.27 20:17 
 

This is extremly useful indicator to avoid choppy market. Great job and thank you for keeping it free.