The DHLBO (Dynamic High/Low Band Overlay) indicator shows on the price chart two bands calculated based on the range Highs/Lows.
It has two input parameters:
- Period;
- Expansion.
Calculations:
Up band = Min+(Max-Min)*Expansion Dn band = Max-(Max-Min)*Expansion
where:
- Min, Max – the highest and lowest prices within the Period interval.