CCI Style Bollinger Band OB OS Indicator - aflcode.com | Latest collection of Amibroker afl 2023

CCI Style Bollinger Band OB OS Indicator

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pds = Param("Periods", 21,5,150,1);
std = Param("Number Of Standard Deviation", 2,0.5,6,1);
Std_Mult = std * 2;

BBO = ((C+std*StDev(C,pds) - MA(C,pds)) / (Std_Mult*(StDev(C,pds))))*100;
Plot( BBO, _DEFAULT_NAME(), ParamColor("color", colorCycle ), ParamStyle("Style") );

PlotGrid(100, colorLightGrey);
PlotGrid(50, colorLightGrey);
PlotGrid(0, colorLightGrey);

"The Bollinger Band Oscillator 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 or lower band represents overbought and oversold conditions."; 
"";
"When using the indicator, Failure Swings and Divergences can lead to significant reversals.";