BBTrend is a relatively new indicator developed by John Bollinger for working with Bollinger Bands. It is one of the few indicators that can signal strength and direction, which makes it a very valuable tool for traders.
The calculations are quite simple. The default periods of 20 and 50 are displayed. The values are configurable.
Bottom = MathAbs(lowerBB(20) – lowerBB(50))
Top = MathAbs(upperBB(20) – upperBB(50))
BBTrend = (lower – upper) / middleBB (20)
- Bullish trend = BBTrend above zero
- Bearish trend = BBTrend below zero
The position above or below zero determines the strength or momentum of the trend.
- Shorter Bands Period – a shorter period for the Bollinger Bands used in the calculations.
- Longer Bands Period – the longer period for the Bollinger Bands used in the calculations.
- iBands Shift – the “shift” used in the calculations of both longer and shorter Bollinger Bands (iBands).
- iBands Deviation – the ” deviation” used in the calculations of both longer and shorter Bollinger Bands (iBands).
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