projection_bands

Function Name: projection_bands

Tags: Bands, Oscillator

Category: Trend, Volatility

Projection Bands are plotted by finding the minimum and maximum prices over the specified number of days and projecting these forward (parallel to a linear regression line). The resulting plot consists of two bands representing the minimum and maximum price boundaries. Prices will always be contained by the bands

Projections Bands are used much like other types of bands--they help gauge the ebb and flow of optimism and pessimism. When prices are at or near the upper band, extreme optimism is indicated--look for prices to move down to more rational levels. Likewise, when prices are at or near the lower band, extreme pessimism is indicated--look for prices to move up to more rational levels.

 

Period
	Default Value: 14  |  Minimum: 2  |  Maximum: 999
	Type: Numeric