Posted by Mohammad Rahhal, Last modified by Rawan Al Hourani on 15 June 2016 02:02 PM


Public Function BollingerBands(chart_ID As Long, applyTo As ENUM_APPLIED_PRICE, period As Integer, StandardDev As Integer, Ma As ENUM_MA_METHOD) As String

Bollinger Bands are similar in comparison to moving average envelopes. Bollinger Bands are calculated using standard deviations instead of shifting bands by a fixed percentage.

Bollinger Bands (as with most bands) can be imposed over an actual price or another indicator.

When prices raise above the upper band or fall below the lower band, a change in direction may occur when the price penetrates the band after a small reversal from the opposite direction.


Key Description 
chart_ID Chart identifier, 0 is the current chart ,value of type Long
applyTo Applied price , vlaue of type  ENUM_APPLIED_PRICE.
period The calculation period, on which the indicator will be calculated, value of type Integer.
StandardDev Standard deviation value of type Integer.
Ma Moving average type , value of type ENUM_MA_METHOD.

Return value

Returns the handles of a technical indicator, in case of failure returns a empty string.


Public Sub main()

AlertMessage (BollingerBands(0,PRICE_CLOSE,20,2,1))

'Draws the indicator on chart and shows an Alert Message with the indicator name.

End Sub

See Also

Back to VTL Client Script Index

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