James (Jim) M. Hurst bands form % of bands around the median calculated using the Hurst equation.External bands (called ExtremeBands) mean extreme overbought/oversold conditions.Internal bands mean potential price return points.They also act as dynamic support/resistance levels.
The indicator has seven adjustable parameters:
Period – calculation period
Inner value – internal bands deviation value
Outer value – external bands deviation value
Extreme value – extreme bands deviation value
Show extreme lines – display the lines of extreme values
Show outer lines – display the lines of external values
Show inner lines – display the lines of internal values
Calculation:
Center  = MA[Period/2-1]
HExtreme = Center * (1+Extreme value/100)
LExtreme = Center * (1-Extreme value/100)
HOuter  = Center * (1+Outer value/100)
LOuter  = Center * (1-Outer value/100)
HInner  = Center * (1+Inner value/100)
LInner  = Center * (1-Inner value/100)
