Icarus BolliBand Change Display Indicator

Icarus Bolli-Band Change Display(TM) Indicator is a simple, but highly effective tool for visually identifying areas where the all-important 'Bollinger Band' values are in a state of expansion, contraction of neither.

The traditional Bollinger Bands have been widely applied to trading charts globally since their creation by John Bollinger several decades ago.

One of the limitations of the traditional Bollinger Bands is the ability to clearly identify when the bands are in fact expanding or contracting. This market environment indication is a critical element of any effective signal or strategy, particularly when overlaying other indicators for added confluence. 

The Icarus BolliBand Change Display Indicator provides a clear visual indication of when the market environment is in an expansion, contraction or neutral phase. 

The Indicator has a full range of optimisable inputs, allowing users to identify settings that best suit their trading style, instruments and preferred timezones. 

Optimisable and Customisable inputs include:

• Bolli Periods, providing for a precise setting of duration and sensitivity. 

• Bolli width, providing the fully adjustable standard deviation mark

• Expansion Lookback, allowing users to adjust the distance back in time the % of expansion will compare. This feature allows users to ensure the best possible fit for different timeframes and instrument differences

• Expansion % threshold, allowing users to identify allowable limits of expansion, to assist in clearing out 'noise' within the Bolli-Band conditions

• Contraction Lookback, allowing users to adjust the distance back in time the % of contraction will compare. This feature allows users to ensure the best possible fit for different timeframes and instrument differences

• Contraction % threshold, allowing users to identify allowable limits of contraction, to assist in clearing out 'noise' within the Bolli-Band conditions