Welch Forex presents Welch Custom Bollinger Bands!

We have been using this indicator as an integral part of our strategy for several years and now we have decided to put it up for sale!

• Bollinger Bands Period – ATR and StdDev calculation period (default: 20)
• Bollinger Bands Shift – shift relative to the current time (default: 0)
• Bollinger Bands Deviations – deviation (default: 2)
• Use ATR, STD, or Both – use ATR, STD, or both (default: Use StdDev)
• ATR Period – the ATR period. Used to differentiate between ATR and STDDev periods (default: 0)
• STD Deviation Period – the STD Deviation period. Used to differentiate between ATR and STDDev periods (default: 0)

The operating mode depends on the Use ATR, STD, or Both setting:

• Use ATR-The indicator immediately uses ATR to calculate the midline.
• Use STDDev-the indicator immediately uses STD Deviation to calculate the midline (this method is used in standard Bollinger bands).
• Use Both Combined-the indicator immediately uses ATR and STD Deviation to calculate the midline.
• Use Both Averaged-the indicator immediately uses the average value of
  ATR and STD Deviation to calculate the average line
  (our favorite method).

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Originally developed by John Bollinger, Bollinger Bands are volatility bands located above and below the moving average. The volatility is based on the standard deviation, which changes as the volatility decreases or increases. The bands widen during periods of high volatility and narrow when it weakens. This dynamic nature of the Bollinger bands allows you to use them on different instruments with standard settings. The Bollinger bands can be used to recognize double peaks and troughs, as well as to determine the strength of the trend.

ATR calculation improves volatility calculation by making Welch
Bollinger Bands is a useful addition to your arsenal of indicators.

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