I found this in the AFL. library I have been watching it on individual stocks for quite a while. It talks about being able to be uses as a scan or explore but I don't know how to set the filters to make it work. If you can come up with some code or understand how to set the filters and what else needs to be done please let me know .
Steve Kuball
/*
Bollinger bands squeeze.
By Vladimir Gaitanoff, 2005. support<at>vglib<dot>com
This is a volatility indicator.
It can be used to determine the periods of extremes of low volatility which
usually followed by big moves.
Indicator does not show direction of the trade, only timing.
Some other aspects of technical/fundamental analysis should be employed for
direction.
There is a signal line with colored dots. Red dots
indicate periods of low
volatility (sqeeze).
Green dots indicate periods of high volatility.
Indicator line crosses above and below signal line. Time trades at historical
extremes of low volatility.
It can be used for scans, for instance, to find stepper stocks before big
moves.
The original author of the idea uses it for intraday trading.
For confirmation look for sqeezes in two different time frames.
*/
Length = 8;
Price = EMA(Close, Length);
// Keltner
kLength = Length;
kN = 1.5;
kATR = ATR(kLength);
kUpper = Price + kN * kATR;
kLower = Price - kN * kATR;
// Bollinger
bbLength = Length;
bbN = 2;
bbStDevValues = StDev(Close, bbLength);
bbUpper = Price + bbN * bbStDevValues;
bbLower = Price - bbN * bbStDevValues;
IsSignal =
bbUpper <= kUpper AND
bbLower >= kLower;
Graph0 = 1;
Graph0Style = styleDots;
Graph0BarColor = IIf(IsSignal, colorRed, colorGreen);
Proportion = (kUpper - kLower) / (bbUpper - bbLower);
Graph1 =
Proportion;
Title = "Next Move Signal. In squeeze: " + WriteVal(IsSignal, 1) + "
Keltner/Bollinger: " + WriteVal(Proportion);
infynhome <[EMAIL PROTECTED]> wrote:
Hi members,
Need help on creating a scan to identify bollinger band squeeze break
out system.
We all know, low volatility follows high volatility and expanding price
action.
Need to identify these kind of charts.
Can somebody help me in creating one?
Regards
Mithil
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