OPEN-SOURCE SCRIPT
BBImpulse Indicator
BBImpulse is part of the latest indicators package offered by John Bollinger. Excerpt from their market blurb (bbforex.com/tutorial/?p=4):
"BBImpulse is derived from %b. Its value is the periodic change of %b, so if %b was 0.45 this period and 0.20 last period the present value of BBImpulse is 0.25. We present two reference levels on the chart, an alert level and an impulse level."
"Generally the market moves in the direction of the latest alerts and/or impulses except towards the end of a move where one can take advantage of exhaustion/reversal signals from this indicator."
"Ian Woodward employs BBImpulse for his Kahuna signals using key levels of 0.24 and 0.40."
I added support for the following:
- Highlighting alert/impulse trigger bars
- Rendering the range (check options page).
I noticed that the range, by itself, highlights lot of info:
- Tapering in (narrowing) of range may signify topping or falling prices.
- Tapering out (expanding) may signify nearing a bottom or rising prices.
- Range getting "ranged" between alert or impulse levels signify a major move in the direction of the last impulse trigger. I think for this, alert level ranging intensity is greater than impulse level ranging intensity.
Someone more familiar with BB will have more observations, I am sure. Please do share here so we BB noobs can learn :)
For more indicators, check out my complete list here:
tradingview.com/v/4IneGo8h/
"BBImpulse is derived from %b. Its value is the periodic change of %b, so if %b was 0.45 this period and 0.20 last period the present value of BBImpulse is 0.25. We present two reference levels on the chart, an alert level and an impulse level."
"Generally the market moves in the direction of the latest alerts and/or impulses except towards the end of a move where one can take advantage of exhaustion/reversal signals from this indicator."
"Ian Woodward employs BBImpulse for his Kahuna signals using key levels of 0.24 and 0.40."
I added support for the following:
- Highlighting alert/impulse trigger bars
- Rendering the range (check options page).
I noticed that the range, by itself, highlights lot of info:
- Tapering in (narrowing) of range may signify topping or falling prices.
- Tapering out (expanding) may signify nearing a bottom or rising prices.
- Range getting "ranged" between alert or impulse levels signify a major move in the direction of the last impulse trigger. I think for this, alert level ranging intensity is greater than impulse level ranging intensity.
Someone more familiar with BB will have more observations, I am sure. Please do share here so we BB noobs can learn :)
For more indicators, check out my complete list here:
tradingview.com/v/4IneGo8h/
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
List of my indicators at Appstore: blog.tradingview.com/?p=970
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
List of my indicators at Appstore: blog.tradingview.com/?p=970
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.