bands beyond bollinger bands

[upsndowns]

hi,
i am interested in creating a band above & one below the bollinger bands, based on the difference between the bollinger bands at any moment, where this difference is added to the upper band, & subtracted from the lower band.
i've had no luck finding something similar in the posted indicators, & any help would be appreciated. thanks.

[NinjaTrader_RyanM1]

Hello upsndowns,

Below are two data series that will do this. You can create these as data series according to the principles in the document below:

http://www.ninjatrader-support.com/HelpGuideV6/EnteringCalculationLogic2.html

 
myDataSeries.Set(Bollinger(2,14).Upper[0] - Bollinger(2,14).Lower[0] + Bollinger(2,14).Upper[0]);
 
 
myDataSeries2.Set(Bollinger(2,14).Upper[0] - Bollinger(2,14).Lower[0] - Bollinger(2,14).Lower[0]);

[upsndowns]

thanks ryanm
i created a new indicator that would just plot this upper & lower band only. it "compiled" ok, but when placing it on my chart, everything in the price panel 1 "scrunched up" to the top edge ?? here's my progress...


protectedoverridevoid Initialize()
{
Add(new Plot(Color.Orange, PlotStyle.Line, "Above band"));
Add(new Plot(Color.Orange, PlotStyle.Line, "Below band"));
CalculateOnBarClose = true;
Overlay = true;
PriceTypeSupported = true;


protectedoverridevoid OnBarUpdate()
{
Above.Set(Bollinger(2,14).Upper[0] - Bollinger(2,14).Lower[0] + Bollinger(2,14).Upper[0]);
Below.Set(Bollinger(2,14).Upper[0] - Bollinger(2,14).Lower[0] - Bollinger(2,14).Lower[0]);
}

[DaveE]

hi,
i am interested in creating a band above & one below the bollinger bands, based on the difference between the bollinger bands at any moment, where this difference is added to the upper band, & subtracted from the lower band.

I dont think you need a new indicator. All you need to do is add another instance of the existing Bollinger indicator to your chart, keep the same Period, but set the "# of std. dev." to three times whatever you have used for the first instance.

[upsndowns]

hi davee, the result i am after is not the same as simply "upping" the standard deviation number.
i also attempted to create it as a new indicator as i did not want to play with the existing BB indicator & stuff it up (very likely!!), as i have it looking just how i want on the chart with color fill, etc.

[mountainclimber]

That should do it for you, if I understand what you want: (this is untested)

Above.Set(Bollinger(2,14).Upper[0] + (Bollinger(2,14).Upper[0] - Bollinger(2,14).Lower[0]));
Below.Set(Bollinger(2,14).Lower[0] - (Bollinger(2,14).Upper[0] - Bollinger(2,14).Lower[0]));

You may the bollinger triplestat v4 useful:
http://www.ninjatrader-support2.com/...catid=1&sort=d

...I wrote it.

[NinjaTrader_RyanM1]

Hello UpsnDowns,

This might work better for you, with parentheses in the right places.

Above.Set(Bollinger(2,14).Upper[0] + (Bollinger(2,14).Upper[0] - Bollinger(2,14).Lower[0]));
Below.Set(Bollinger(2,14).Lower[0] - (Bollinger(2,14).Upper[0] - Bollinger(2,14).Lower[0]));


Edit: Great, Thanks for sharing mountainclimber!

[DaveE]

You will find that
Bollinger(2,14).Upper[0] + (Bollinger(2,14).Upper[0] - Bollinger(2,14).Lower[0])

is a longer way of saying

Bollinger(6,14).Upper[0]

and
Bollinger(2,14).Lower[0] - (Bollinger(2,14).Upper[0] - Bollinger(2,14).Lower[0])

is a longer way of saying

Bollinger(6,14).Lower[0]


That is simply multiply the Std Dev parameter by 3.

The reason is simple: Whatever value you specify for "# of Std Dev" parameter the "difference" between Upper and Lower bands will be 2 times the Standard Deviation times your parameter value.
A band whose upper is the same distance above the original upper as the original's "difference", and whose lower is the same distance below the lower as the original's "difference", must be three times as deep as the original band.

[upsndowns]

thanks everyone for your help...i've sorted it out & learn't some more!
mountainclimber...thanks again. you helped me with the "macd avgupdwn" indicator, & your top of the list when i need someones help devising my super indicator.

[mountainclimber]

Glad to help and thanks for the props!