LazyBear

BBImpulse Indicator

BBImpulse is part of the latest indicators package offered by John Bollinger. Excerpt from their market blurb (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:

List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
Skrip sumber terbuka

Dalam semangat TradingView yang sebenar, penulis skrip ini telah menerbitkannya dengan menggunakan sumber terbuka supaya pedagang-pedagang dapat memahami dan mengesahkannya. Sorakan kepada penulis! Anda dapat menggunakannya secara percuma tetapi penggunaan semula kod ini dalam penerbitan adalah dikawalselia oleh Peraturan Dalaman. Anda boleh menyukainya untuk menggunakannya pada carta.

Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.

Ingin menggunakan skrip ini pada carta?
//
// @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)