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Adjustable Trading Bands by Tushar Chande
Using the default values used in the formulas, I have found that theseupper and lower bands provide effective risk control while trading. The upper band can be used as the extreme point to get rid of shortsand viceversa. In fact, prices tend to remain above both the bands while the market is in a strong uptrend, and prices remain below thebands in a downtrend. During short-term range-bound markets, they tend move between the bands. I have found this idea in TusharChande's"New Technical Trader". Since you have studied ATR so thoroughly, it would be be very nice if you could comment on them.Canbe made into a template for easier usage.

from Rajat K Bose

Upper Band

Prd1a:=Input("ATR Period",5,20,5);
Prd2a:=Input("Period for Highest High Value",5,20,10);
(HHV(LLV(L,Prd1a)+ATR(Prd1a),Prd2a))


Lower Band

Prd1b:=Input("ATR Period",5,20,5);
Prd2b:=Input("Period for Lowest Low Value",5,20,10);
(LLV(HHV(H,Prd1b)-ATR(Prd1b),Prd2b))

Lub w ca³o¶ci dla MS 6.52


Adjustable Trading Bands

{Upper Band}
Prd1a:=Input("ATR Period",5,20,5);
Prd2a:=Input("Period for Highest High Value",5,20,10);
(HHV(LLV(L,Prd1a)+ATR(Prd1a),Prd2a));

{Lower Band}
Prd2b:=Input("Period for Lowest Low Value",5,20,10);
(LLV(HHV(H,Prd1a)-ATR(Prd1a),Prd2b));

 
e-w-Adjustable_Trading_Bands.gif
Source / From: TOP
http://www.guppytraders.com
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