bomar_bands
Function Name: bomar_bands
Tags: Bands
Category: Trend, Volatility
The Bomar bands consist of a center line and two price channels above and below it. If price tags the upper band and indicator action confirms it, no sell signal is generated. On the other hand, if price tags the upper band and indicator action does not confirm (that is, it diverges), we have a sell signal. The first situation is not a sell signal; instead, it is a continuation signal if a buy signal was in effect.
Parameters:
MAPeriod: Period for moving average calculation.
StdevPeriod: Period for standard deviation calculation.
UpperDev: Standard deviation multiple that forms upper band.
LowerDev: Standard deviation multiple that forms lower band.
ShowSMA, ShowEMA, ShowMMA, ShowBands: Display control flags.
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MAPeriod |
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Default Value: 21 | Minimum: 2 | Maximum: 999 |
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Type: Numeric |
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StdevPeriod |
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Default Value: 85 | Minimum: 2 | Maximum: 999 |
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Type: Numeric |
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UpperDev |
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Default Value: 1 | Minimum: 0 | Maximum: 100 |
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Type: Numeric |
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LowerDev |
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Default Value: 1 | Minimum: 0 | Maximum: 100 |
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Type: Numeric |
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ShowSMA |
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Default Value: -1 |
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Type: Boolean |
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ShowEMA |
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Default Value: 0 |
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Type: Boolean |
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ShowMMA |
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Default Value: 0 |
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Type: Boolean |
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ShowBands |
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Default Value: -1 |
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Type: Boolean |