The Bollinger Bands are a technical analysis indicator developed by John Bollinger in the 1980s, used to measure market volatility and identify potential trading opportunities.
The Bollinger Bands indicator is a powerful technical analysis tool that provides valuable insights into volatility, overbought/oversold conditions, and potential trend reversals.
This indicator consists of a central line, typically a simple moving average (SMA), and two outer bands representing standard deviations from the SMA.
PARAMETERS
In the "Parameters" section, the following parameters can be set:
- Data Base: reference on which the average is calculated
- High, Low, Open, Close
- Periods: period used for the calculation of the average (middle line)
- Value dev. std: coefficient used for standard deviation (lower and upper bands)
SERIES
In the Series section you can set the colors and style of the following lines:
- Bollinger Avg: middle media
- Bollinger Up: upper band
- Bollinger Down: lower band
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