PZ Bands
PZ Bands - multitaymfreymny indicator to search for zones of overbought / oversold by a linearly weighted moving average and ATR.
- Search areas of overbought / oversold
- A simple reading of data from a larger timeframe
- Display data when opening bars
- The indicator is not redrawn
Trade rules are simple.
- Look for an opportunity to sell if the price is higher than the top line.
- And buy when it goes for the bottom.
- Switch to smaller timeframes without losing the values!
Options
- Timeframe of the Bands: timeframe for calculating lines
- Band Period: between the central linearly weighted moving average
- Small Channel Size: volatility factor for a small channel
- Medium Channel Size: volatility factor for the middle channel
- Big Channel Size: volatility factor for a wide channel
- ATR Period: the period for calculating the ATR lines
Author
Arturo Lopez Perez, a private investor, speculator, programmer and founder of Point Zero Trading Solutions.
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