PZ Bands MT5
PZ Bands is a multi-timeframe indicator designed to find overbought and oversold price areas, using a linear weighted moving average and ATR.
- Find overbought and oversold situations
- Read data from higher timeframes easily
- The indicator displays data at bar opening
- The indicator is non-repainting
Trading implications are simple.
- Look for shorts when the price exceeds the upper bands.
- Look for longs when the price falls below the lower bands
- Dive into lower timeframes without losing values!
The only functional parameters of the indicator are the following.
- Timeframe of the Bands: The timeframe from which to calculate the bands
- Band Period: The central linear weighted moving average period
- Small Channel Size: Volatility multiplier for the small band channel
- Medium Channel Size: Volatility multiplier for the medium band channel
- Big Channel Size: Volatility multiplier for the big band channel
- ATR Period: ATR Period to calculate the bands
Arturo López Pérez, private investor and speculator, software engineer and founder of Point Zero Trading Solutions.