Adding a Bandwidth Delta indicator

[Import]

Chris White wrote
Sunday, April 11, 2010 11:57 AM

To add a custom indicator that shows the Bandwidth and Bandwidth Delta, the following script can be used:

Code: Select all

MID:=  MA(CLOSE,20);
UPPER:= MID + 2*STDP(CLOSE,20);
LOWER:= MID - 2*STDP(CLOSE,20);

BW: (UPPER - LOWER) / MID;
DeltaBW: BW - Ref(BW, N);

Here, 'N' is the number of bars for the delta calculation and should be added to the script parameter list. Here is a composite image of the script editor and the indicator when added to a stock chart.