TBollingerFunction
Hierarchy Properties Methods Events
Unit
StatChar
Description
The TBollingerFunction intruduces the Bollinger Bands Trading Bands function. Trading bands are lines plotted in and around the price structure to form an envelope. Trading bands answer the question whether prices are high or low on a relative basis (taken from Bollinger Bands Tutorial - see below for reference)
Bollinger bands have three characteristic curves:
1) Mean value curve
2) Low band curve
3) High band curve
Low and high band are defined by the following equations:
Low = Mean - Deviation*StdDev,
High = Mean + Deviation*StdDev,
Where Mean is average value for given period (exponential or normal), StdDev is standard deviation for given period and Deviation is the StdDev multiplier.
For more info on Bollinger Bands check the http://www.BollingerBands.com/bbands.asp tutorial.
