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Bermaui Bands

The idea after this indicator formula can be described in the following steps:

  1. Calculate the center line of Donchian Channel.
  2. Add Standard deviation to Donchian Channel center line to get Upper Band.
  3. Subtract Standard deviation from Donchian Channel to get Lower Bands.


How to use Bermaui Bands

  • As trend following indicator, when candles close higher than center line then trend is up and when price closes lower than center line then trend is down.
  • Use Bermaui Bands as a filter to help you identify trend direction.
  • Trade with your usual trading tools in the direction of Bermaui Bands only to eliminate false signals as much as possible.
  • As trend reversal indicator, when candles close outside the upper or lower bands then there is a high probability that they will revert to the mean or the center of the bands.
  • Use suggested entry arrows to help you finding strong reversal points to start from.


Bermaui Bands Features

  • Well-designed style that user can control.
  • Buy, Sell arrows to help identifying trend signals.
  • Sound, email alerts depending on user choice.


Bermaui Bands inputs

  • Channel_Candles = Number of candles used in bands calculations(default is 20 candles).
  • Deviation_Candles = Number of candles used to calculate standard deviation(default is 40 candles).
  • Deviation_Price = Price used in calculating standard deviation (default is Close).
  • MA_Method = Moving Average method used in standard deviation calculation (default is Simple Moving Average).
  • Deviation_Multiplier = This parameter will help you to control Bermaui Bands width or how much far the bands can be away from the center line(default is 1.5).
  • UpperBand_color = Color of the upper band.
  • MedianBB_color = Color of the Center band.
  • LowerBand_color = Color of the lower band.
  • UpArrow_Color = Color for buy arrows.
  • DnArrow_Color = Color for sell arrows.
  • Show_Signal = Show or hide arrows options.
  • Alerts = Choose to use or stop alert sound and message.
  • eMail_Send = Option to send email to the user when an alert is true.
  • eMail_Header = The head of the email message sent to the user.
  • eMail_subject = The subject written inside the message sent to the user.
  • Notification_Send = Option to send notification to the user.

I hope you find BB a good investment tool for you.

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