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Category
Indicator Functions
Description
Bollinger band trend
Syntax
BBTREND(len1, len2, mult)
Parameters
len1 - first lookback period
len2 - second lookback period
mult - number of standard deviations
Notes
The BBTREND indicator is calculated as follows:
lower = ABS(BBBOT(len1, mult) - BBBOT(len2, mult))
upper = ABS(BBTOP(len1, mult) - BBTOP(len2, mult))
BBTREND = (lower - upper) / Avg(C, len1)
This indicator is intended to signal both strength and direction of trend.
To calculate BBTREND for something other than Close use BBTrendF.
This function supports ultra-fast one-pass calculation when used in the Data Section with a non-variable count.
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