Real author:

Raff

A simple interpretation of the Bollinger Bands indicator in a separate window.

Indicator input parameters:

//+-----------------------------------+
//| Indicator input parameters        |
//+-----------------------------------+
input Smooth_Method XMA_Method=MODE_SMA; // Method of averaging
input int XLength=100;                   // Depth of averaging
input int XPhase=15;                     // Parameter of averaging
input int BandsPeriod=100;               // Period of BB averaging
input double BandsDeviation = 2.0;       // Deviation
input Applied_price_ IPC=PRICE_CLOSE;    // Price constant
input int Shift=0;                       // Horizontal shift of the indicator in bars

This indicator was first implemented in MQL4 and published in Code Base on 07.05.2008.

The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

Figure 1. The BBflat_sw indicator