CCT Bollinger Band Oscillator

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The CCT Bollinger Band Oscillator (CCTBO), developed by Steve Karnish of Cedar Creek Trading, reconfigures John Bollinger's classic Bollinger Bands ( envelopes plotted at two Standard Deviations above and below a moving average) by drawing two parallel lines replacing the envelopes . The parallel lines represent a measurement of two Standard Deviations from the mean and are assigned a value of zero and 100 on the chart.

The indicator represents the price as it travels above and below the mean (50%) and outside the two standard deviations (zero and 100). Penetration of the upper band represents overbought conditions while penetration of the lower band signifies oversold conditions. Usage of the CCT Bollinger Band Oscillator to identify 'failure swings' and 'divergences' can lead to significant reversals.

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//
// @author LazyBear
// List of all my indicators:
//
study("CCT Bollinger Band Oscillator [LazyBear]", shorttitle="CCTBBO_LB")
length=input(21)
lengthMA=input(13)
src=close
cctbbo=100 * ( src + 2*stdev( src, length) - sma( src, length ) ) / ( 4 * stdev( src, length ) )

ul=hline(100, color=gray)
ll=hline(0, color=gray)
hline(50, color=gray)
fill(ul,ll, color=blue)

plot(cctbbo, color=blue, linewidth=2)
plot(ema(cctbbo, lengthMA), color=red)
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Commenti

Good afternoon. How can we do that on MT4?
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CCT Bollinger Band Oscillator (CCTBO) peaks are very reliable finding squeezes
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QuantitativeExhaustion
Nice. You are the master of squeeze play , still waiting for your tutorial on using CogChannel + Sqzmom + whatever other sauce u use ;)
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LazyBear
Looks like your SQZ indicator (not overlay) is working well. SQZ plays are where the money is when you trade options.
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Is it the same as in the link but adding a MA13? http://www.stocks-simplified.com/CCT_Bollinger_Bands_Oscillator.html
I would like to add it to my MT4 server.
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magarto
yup, the same.
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Awesome... thanks, as usually
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magarto
yw :)
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