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| Added: December 05, 2006 |
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| Tags:
TradeStation, indicator
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Type : Function, Name : BWI
Inputs:
Len (Numeric),
Stdev1(Numeric),
Stdev2(Numeric);
Vars:
Upper(0),
Lower(0),
Avg(0);
Upper=BollingerBand(Close,Len,Stdev1);
Lower=BollingerBand(Close,Len,Stdev2);
Avg=Xaverage(Close,Len);
Bwi=(Upper-Lower)/Avg;
Type : Indicator, Name : BWI
Inputs:
Len(21),
Stdev1(2),
Stdev2(-2);
Plot1(BWI(Len,Stdev1,Stdev2),"BWI");
Code:
Band Width Indicator: created by John Bollinger, of the Bollinger band and Bollinger
Capital Management fame, as presented by John Forman in the NOv.1994 issue of
"Technical Analysis of Stocks and Commodities".
Idea: BWI is a measure of a tradeable's ability/tendency to trend. It is faster
than an ADX, in that it will move earlier and reset itself earlier too. When
the BWI is low, there is low, there isn't any trend...When it has a positive
slope, there is a trend
Code to difficult? Find somebody to help you with coding here.
Author: John Bollinger
Source: http://www.purebytes.com
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