HamFon Radar01 Bollinger indicator
for TradeStation 7 RadarScreen
Indicator purpose
Ham Bollinger calculates the Standard Deviation level of the current price, in relation
to the Bollinger Bands. The Standard Deviation is displayed, and color coded. Dark green
indicates that the current price is between the middle and upper Bollinger Bands, bright
green indicates that the price is above the upper Bollinger Band, dark red indicates that the price is between the
middle and lower Bollinger Bands, and bright red indicates that the price is below the lower
Bollinger Band. If the current price is exactly on the middle Bollinger Band, no value is
displayed. The colors are configurable as inputs.
Settings:General
- Maximum number of bars study will reference - default is Auto-detect.
- Update on every tick - default is Checked - you may Uncheck to improve performance,
but the indicator will not be recalculated until the end of the current bar.
- Load additional data for accumulative calculations - default is unchecked.
Settings:Inputs
- UpFGColor and UpColor and UpSDevColor are the colors used to display
Bollinger standard deviation values that are greater than zero. PositiveSD defines
the level (in Standard Deviations) of the Bollinger "envelope" for the upper Bollinger Band.
If the current price is greater than PositiveSD standard deviations, then
the default color is UpFGColor (Black) on UpSDevColor (Green).
If the current price is above the middle Bollinger Band, but not greater than PositiveSD standard deviations, then
the default color is UpFGColor (Black) on UpColor (DarkGreen).
- DownFGColor and DownColor and DownSDevColor are the colors used to display
Bollinger standard deviation values that are less than zero. NegativeSD defines
the level (in Standard Deviations) of the Bollinger "envelope" for the lower Bollinger Band.
If the current price is less than NegativeSD standard deviations, then
the default color is DownFGColor (White) on DownSDevColor (Red).
If the current price is below the middle Bollinger Band, but not less than NegativeSD standard deviations, then
the default color is DownFGColor (White) on DownColor (DarkRed).
Settings:Alerts
This Indicator does not currently support Alerts, but that may be a feature of a future release.
Examples:
There are five possible outputs (using default values of 2.0 for PositiveSD and -2.0 for NegativeSD):
- Current price is greater than 2.0 standard deviations
- Current price is greater than the middle Bollinger Band, but not greater than 2.0 standard deviations
- Current price is equal to the middle Bollinger Band (indicated by an empty grid square)
- Current price is less than the middle Bollinger Band, but not less than -2.0 standard deviations
- Current price is less than -2.0 standard deviations
The following RadarScreen shows an example of each. The charts below give the details. Note
that the "current price" is shown on the right-most bar as the closing price (and updated as
price changes occur) - so compare the Bollinger Bands in the following charts with the "closing"
price on the right-most bar.
HamRadar01 is not guaranteed for any particular purpose. Trading involves a high level of
risk - and neither Prototech, Inc., nor Nelson Crowle (HamFon) will be liable for any losses
that you incur. HamRadar01 is licensed for individual usage - you may use it on any number of
machines, but only with the TradeStation Customer Number that you provide when you order. You
may not reverse engineer HamRadar01, or share it with other users.
If you have any questions, please email me.