LazyBear

BBImpulse Indicator

BBImpulse is part of the latest indicators package offered by John Bollinger . Excerpt from their market blurb (http://www.bbforex.com/tutorial/?p=4):

"BBImpulse is derived from %b. Its value is the periodic change of %b, so if %b was 0.45 this period and 0.20 last period the present value of BBImpulse is 0.25. We present two reference levels on the chart, an alert level and an impulse level."

"Generally the market moves in the direction of the latest alerts and/or impulses except towards the end of a move where one can take advantage of exhaustion/reversal signals from this indicator."

"Ian Woodward employs BBImpulse for his Kahuna signals using key levels of 0.24 and 0.40."

I added support for the following:
- Highlighting alert/impulse trigger bars
- Rendering the range (check options page).

I noticed that the range, by itself, highlights lot of info:
- Tapering in (narrowing) of range may signify topping or falling prices.
- Tapering out (expanding) may signify nearing a bottom or rising prices.
- Range getting "ranged" between alert or impulse levels signify a major move in the direction of the last impulse trigger. I think for this, alert level ranging intensity is greater than impulse level ranging intensity.

Someone more familiar with BB will have more observations, I am sure. Please do share here so we BB noobs can learn :)

For more indicators, check out my complete list here:
Favori Komutlardan Çıkart Favori Komutlara Ekle
//
// @author LazyBear 
// List of all my indicators: https://www.tradingview.com/v/4IneGo8h/
//
study(title = "Bollinger Bands Impulse [LazyBear]", shorttitle = "BBIMP_LB")
source = close
length = input(20, minval=1)
mult = input(2.0, title="Mult Factor", minval=0.001, maxval=50)
alertLevel=input(0.24)
impulseLevel=input(0.40)
showRange = input(false, type=bool)

// Calc BB
basis = sma(source, length)
dev = mult * stdev(source, length)
upper = basis + dev
lower = basis - dev

// Calc Impulse
bbr = (source - lower)/(upper - lower)
bbi = bbr - nz(bbr[1]) 
bbc = iff(bbi>0, 
        iff(bbi>alertLevel and bbi<impulseLevel, lime, iff(bbi>impulseLevel, orange, aqua)),  
        iff(bbi<-alertLevel and bbi>-impulseLevel, red, iff(bbi<-impulseLevel, orange, aqua))
        )

// Plot Ian Woodward's suggested Reference Levels
plot(0, color=gray, title="MidLine", style=3)
plot( impulseLevel, color=gray, style=line, linewidth=1, title="Impulse+")
plot( alertLevel, color=gray, style=3, linewidth=1, title="Alert+")
plot( -alertLevel, color=gray, style=3, linewidth=1, title="Alert-")
plot( -impulseLevel, color=gray, style=line, linewidth=1, title="Impulse-")

plot(showRange ? bbr : na, color=gray, style=area, title="Range+", linewidth=0, transp=80)
plot(showRange ? -bbr : na, color=gray, style=area, title="Range-", linewidth=0, transp=80)

plot(bbi, color=bbc, style=histogram, linewidth=2)



So how do you use this?
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You can find more info on the link I have posted in the desc. Also, check out the comment by @ChartAt above, he has some nice info too.
+1 Cevap Gönder
CoinEx LazyBear
Thanks for your indicators. They are incredible (or incredibly inspired!). Not only have you allowed lots of users a new way to look at the market(s) (thats frankly not available in most places) you have also made a wide contribution to the use of old and new techniques in interesting combinations.

I do have one small request. Is there any chance you could make a very simple indicator for charts that displays the fees associated with trading? (Both buying and selling)

I am not sure if an offset or some other indication would be best in different kinds of charts.
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lazibear number one!
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Great Looking Indicator...
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LazyBear ChrisMoody
Thanks Chris.
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Omg you did it ! Thanks LB you're awsome
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LazyBear AlexandreFF
yw
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Should I make a pastebin again, or is Mr. Bollinger going to be okay with this? ;)
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LazyBear grahvity
lol...Mr.Bollinger published this code himself, so we good :)
+1 Cevap Gönder
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