Hi, Mike provided me with the volatility band formula to be used on RSI indicator. However, I would like to take the idea further and test the band on other indicators.
Can someone help me with me.... Coefdwn = 2.1; Coefup = 2.3; //ATR custom Per = Param( "ATR Prds", 15, 5, 20, 1 ); TH = IIf( Ref( RSIa( C, Per ), -1 ) > RSIa( C, Per ),Ref( RSIa( C, Per ), -1 ), RSIa( C, Per ) ); TL = IIf( Ref( RSIa( C, Per ), -1 ) < RSIa( C, Per ), Ref( RSIa( C, Per ), -1 ),RSIa( C, Per ) ); TR = TH - TL; Truerangecustom = MA( TR, per ); //Plot(Truerangecustom,"",colorRed,styleLine); TOPBAND = MA( RSIa( Close, 14 ), 6 ) + ( Coefup * MA( TrueRangeCustom, 15 ) ); BOTBAND = MA( RSIa( Close, 14 ), 6 ) - ( Coefdwn * MA( TrueRangeCustom, 15 ) ); //MID = ( TOPBAND + BOTBAND ) / 2; RS = RSIa( Close, 14 ); //SIG = MA( RSI( 14 ), 3 ); Plot( TOPBAND, "TB", colorRed, styleLine + styleThick + styleNoLabel ); //Plot( MID, "MB", colorYellow, styleThick ); Plot( BOTBAND, "BB", colorBrightGreen, styleLine + styleThick + styleNoLabel ); Plot( RS, "RSI", colorWhite, styleDots); //Plot( SIG, "Sig", colorGrey40, styleLine + styleNoLabel ); Plot(68,"",31,1);Plot(50,"",31,1);Plot(32,"",31,1); Title = EncodeColor( colorRed ) + " Top Band = " + WriteVal( TOPBAND, 1.2 ) + "\n" + EncodeColor( colorBrightGreen ) + " Bot Band = " + WriteVal( BOTBAND, 1.2 ) + "\n" + //EncodeColor( colorYellow ) + " Mid = " + WriteVal( MID, 1.2 ) + "\n" + EncodeColor( colorWhite ) + " RSI = " + WriteVal( RS, 1.2 ) ;