STARC (Stoller Average Range Channels) bands make use of ATR to form the bands, giving it a more in-depth snapshot of market volatility compared to Bollinger Bands.
When a price curve penetrates a Bollinger Band, it may indicate the continuation of a price move; in contrast, the STARC bands tend to define upper and lower limits for normal price action.
When a price curve penetrates a Bollinger Band, it may indicate the continuation of a price move; in contrast, the STARC bands tend to define upper and lower limits for normal price action.
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
//
// @author LazyBear
//
// If you use modify / use this code, appreciate if you could drop me a note.
//
study(title = "STARC Bands [LazyBear]", shorttitle="StarcBands_LB", overlay=true)
src = close
length=input(15)
tr_custom() =>
x1=high-low
x2=abs(high-close[1])
x3=abs(low-close[1])
max(x1, max(x2,x3))
atr_custom(x,y) =>
sma(x,y)
tr_v = tr_custom()
basis=sma(src, 6)
acustom=(2*atr_custom(tr_v, length))
ul=basis+acustom
ll=basis-acustom
m=plot(basis, linewidth=2, color=navy, style=circles, linewidth=2, title="Median")
l=plot(ul, color=red, linewidth=2, title="Starc+")
t=plot(ll, color=green, linewidth=2, title="Star-")
fill(t,l, silver, title="Region fill")