Posted by Mohammad Rahhal, Last modified by Laith Ghawi on 05 July 2019 01:25 PM


Public Function BollingerBands(chart_ID As Long, applyTo As ENUM_APPLIED_PRICE, period As Integer, StandardDev As Integer, Ma As ENUM_MA_METHOD) As String


Bollinger Bands are similar in comparison to moving average envelopes. Bollinger Bands are calculated using standard deviations instead of shifting bands by a fixed percentage.

Bollinger Bands (as with most bands) can be imposed over an actual price or another indicator.

When prices rise above the upper band or fall below the lower band, a change in direction may occur when the price penetrates the band after a small reversal from the opposite direction.


Key Description 
chart_ID Chart identifier, 0 is the current chart, a value of type Long
applyTo Applied price, a value of type  ENUM_APPLIED_PRICE.
period The calculation period, on which the indicator will be calculated, a value of type Integer.
StandardDev Standard deviation value of type Integer.
Ma Moving average type, a value of type ENUM_MA_METHOD.

Return value

Returns the handles of a technical indicator, in case of failure returns an empty string.


Public Sub main()

AlertMessage (BollingerBands(0,PRICE_CLOSE,20,2,1))

'Draws the indicator on the chart and shows an Alert Message with the indicator name.

End Sub

See Also

Back to VTL Client Script Index

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