PROTECTED SOURCE SCRIPT
Trend Band
The volume-weighted, exponential running mean is computed. It is shown as the thick line. The plus-minus one standard deviation band is also shown with two thinner lines.
In contrast to other RAs, it is the trading volumes that are being processed here instead of the price itself.
For the averaging, the weight of the present relative to the past can be chosen by the user. It’s a number between 0 and 1. There are no other (hidden) parameters.
A price outside the band may be an indication that the security is overbought or oversold. It can also be an indication of a beginning trend. Disclaimer: No miracles!
Two alerts are included and act accordingly.
The color of the mean line comes from the derivative averaged the same way. The second derivative (reversals) is still to come.
In contrast to other RAs, it is the trading volumes that are being processed here instead of the price itself.
For the averaging, the weight of the present relative to the past can be chosen by the user. It’s a number between 0 and 1. There are no other (hidden) parameters.
A price outside the band may be an indication that the security is overbought or oversold. It can also be an indication of a beginning trend. Disclaimer: No miracles!
Two alerts are included and act accordingly.
The color of the mean line comes from the derivative averaged the same way. The second derivative (reversals) is still to come.
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