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Has anyone written the Metastock code for Extreme Bandwidth Indicator, Expert, and systems discuused in Barbara Star's article, Bandwidth Volatility Extremes, in 2006 Bounus Issue of Stocks and Commodities magazine? Having used MS for over 20 years, I was surprized that Star's code was written for eSignal since she used to be a heavyweight in Southern California's MS user group and has written most of her previous codes for her articles in MS.
Ali
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Rank: Advanced Member
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I have just had a crack at it.... I shoulda been studying, but then again......
Here's what I come up with:
----8<-----------------------
nXBBLen:=input("XBB Length",1,256,8 ) ;
nLength:=input("BB Length",1,250,20 ) ;
nStdv:=input("Standard Deviations",0,10,2 ) ;
bbw:=bbandtop(c,nLength,E,nStdv)-bbandbot(c,nLength,E,nStdv) / Mov(c,nLength,E) * 100;
roc(bbw,nxBBLen) ;
----8<-----------------------
WARNING: UNTESTED CODE
If you find it useful, please let us all know. If there are any problems, let me know too!
wabbit :D
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers, Unverified Users
Joined: 10/28/2004(UTC)
Posts: 3,111
Location: Perth, Western Australia
Was thanked: 16 time(s) in 16 post(s)
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... and after wasting some more time when I should have been studying.....
Whenever you see BBandTop-BBandBot, you can simply replace this with 2*Stdev(C,nLength).... so there is one saving in the computation from what was posted above. But then the 2* is just a scaling factor, so can be left out of most computations.
Also the ROC needed another term. I think Barbara might have used absolute values for the ROC, but using a % wll have the same chart pattern, just scaled slightly differently. The same goes for multiplying by 100, its just another scaling factor.
So what I ended up with is...
---8<----------------------------
{SMB - Extreme Bandwidth Indicator}
{adapted for MS from Barbara Star's S&C Magazine article, Bandwidth Volatility Extremes,}
nXBBLen:=Input("XBB Length",1,256,8 ) ;
nLength:=Input("BB Length",1,250,20 ) ;
bbw:=Stdev(C,nLength)/Mov(C,nLength,E ) ;
ROC(bbw,nxBBLen,% ) ;
---8<----------------------------
which is much simpler, no?
Notice: the chart pattern is the same, just at different scales....
SOMEONE please correct me if I am wrong!
wabbit :D
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Rank: Advanced Member
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hey wabbit.... high % of my time/life is spent studyin also.... speakin of %, last line of first code is asking for [color=red:9a691020e6] ,% [/color] or points...... thanks for takin time out for us , and good luck with your studies.....h
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers, Unverified Users
Joined: 10/28/2004(UTC)
Posts: 3,111
Location: Perth, Western Australia
Was thanked: 16 time(s) in 16 post(s)
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You could use [color=red:3b4689d44e]%[/color] or [color=red:3b4689d44e]$[/color], it doesnt really matter, as long as you remember that you are working in absolute terms (if $) or relative terms (if %).
wabbit :D
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers, Unverified Users
Joined: 10/28/2004(UTC)
Posts: 3,111
Location: Perth, Western Australia
Was thanked: 16 time(s) in 16 post(s)
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.. forgot to ask someone to post the guidance on how to use this indicator.... doesn't look too inviting the first time I looked at it?
wabbit :D
P.S. Only when all else has failed, does one read the instructions!
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Rank: Advanced Member
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hey wabbit.... no i meant in your first post the last line appears to be missing the ,% or points.... unless that is meant to be a test for us.... you mentioned to let you know, was just lettin ya know..... as far as its use, worked with your first post this morning abit.... looks interesting but didn't have proper time.... will look futher tonite.....
kinda tied up watching csco now, sittin on support in a descending triangle.... the line of death.....h
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Rank: Newbie
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Thanks Wabbit, for your time. I did write it also and used it as described in the article using % for ROC. The crossing of the indicator and a 35 and a -30 line alerts of a change in the price direction (similar to 30 and 70 for RSI).
The indicator gives signals as the BB begins expantion or contraction as the volatility changes. The sysyem is good for short-term intraday trading but good signals must be confirmed at overbought or overslod levels with an oscillator such as Stochastics.
Thanks again!
Ali
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