Description
Projection Bands, a new method using trading bands, projects market data forward along the data trend with the maximum and minimum of the projections defining the band. The method provides another means of signaling potential changes for market direction relative to the trend.
This shows the % width of the projection bands. A trend reversal is signaled by a high value. Low value may indicate the start of a new trend. This is also a trend strength indicator.
Github: GitHub - Doustzadeh/cTrader-Indicator
using System;
using cAlgo.API;
using cAlgo.API.Indicators;
namespace cAlgo
{
[Indicator(IsOverlay = false, AccessRights = AccessRights.None)]
public class ProjectionBandwidth : Indicator
{
[Parameter("Periods", DefaultValue = 14)]
public int Periods { get; set; }
[Output("BW", LineColor = "Red")]
public IndicatorDataSeries BW { get; set; }
private LinearRegressionSlope LrsHigh, LrsLow;
protected override void Initialize()
{
LrsHigh = Indicators.LinearRegressionSlope(Bars.HighPrices, Periods);
LrsLow = Indicators.LinearRegressionSlope(Bars.LowPrices, Periods);
}
public override void Calculate(int index)
{
double HiBand = Bars.HighPrices[index];
double LowBand = Bars.LowPrices[index];
for (int i = 1; i < Periods; i++)
{
HiBand = Math.Max(HiBand, Bars.HighPrices.Last(i) + i * LrsHigh.Result[index]);
LowBand = Math.Min(LowBand, Bars.LowPrices.Last(i) + i * LrsLow.Result[index]);
}
BW[index] = 200 * (HiBand - LowBand) / (HiBand + LowBand);
}
}
}
Doustzadeh
Joined on 20.03.2016
- Distribution: Free
- Language: C#
- Trading platform: cTrader Automate
- File name: Projection Bandwidth.algo
- Rating: 0
- Installs: 1005
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