The standard Bollinger Bands indicator is calculated based on only 7 price constants and a simple moving average (SMA). This modification allows you to calculate the indicator based on any combination of 4 main prices: Close, Open, High and Low.

An additional convenience is the ability to choose one of 6 averaging methods: simple (SMA), exponential (EMA), smoothed (SMMA), linear-weighted (LWMA), double exponential (DEMA), triple exponential (TEMA).

Input parameters:

• Period – the averaging period for calculating the indicator;
• Shift – shift of the indicator relative to the price chart;
• Deviation – standard deviation;
• Moving Average mode-the method of averaging: simple (Simple, SMA), exponential (Exponential, EMA), Smoothed (Smoothed, SMMA), Linear Weighted (Linear Weighted, LWMA), Double exponential (Double Exponential, DEMA) or triple exponential average (Triple Exponential, TEMA);
• Close – the weight factor of the CLOSE price for calculating the individual price;
• Open-the OPEN price weighting factor for calculating the individual price;
• High – the HIGH price weighting factor for calculating the individual price;
• Low – the LOW price weighting factor for calculating the individual price.

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Example 1. Calculate the indicator based on the OPEN price: Close=0, Open=1, High=0, Low=0.
Example 2. Calculate the indicator based on the WEIGHTED price: Close=2, Open=0, High=1, Low=1.
Example 3. Calculate the indicator based on an individual price constant: Close=6, Open=7, High=1, Low=3. Price=(6*Close 7*Open 1*High 3*Low)/17.

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