The Tymen STARC Bands indicator - MA+ATR bands.
It has seven input parameters:
- ATR period - ATR calculation period
- MA period - MA calculation period
- Method - type of applied MA
- Applied price - price used for calculations
- ATR coefficient - ATR coefficient of external bands
- ATR middle coefficient - ATR coefficient of internal bands
- Show middle lines - display the middle MA line
The Moving Averages types which can be used for the Tymen STARC Bands:
Calculation:
Middle = MA
Highest = MA + ATR coefficient * ATR
Top = MA + ATR middle coefficient * ATR
Bottom = MA - ATR middle coefficient * ATR
Lowest = MA - ATR coefficient * ATR
where:
MA = MovingAverage(Applied price, MA period, Method)
ATR = AverageTrueRange(ATR period)
