The indicator DHLPBO (Dynamic High/Low Percentage Band Overlay). Unlike DHLBO, which displays two bands calculated based on the Highs/Lows of the range, this indicator constantly narrows the channel width by a certain percentage throughout the whole range.
It has two input parameters:
- Period;
- Expansion.
Calculations:
Up band = Max-(Max-Min) * (MaxIndex) * Expansion/100.0 Dn band = Min+(Max-Min) * (MinIndex) * Expansion/100.0
where:
- Min, Max - the lowest and the highest prices in the Period range;
- MinIndex, MaxIndex - the minimum and maximum value indexes, shifted by a step of 1.
