The indicator is similar to Bollinger Bands, but has a signal (“mirror”) line.
It has four input parameters:
- Period – calculation period
- MA period – MA line calculation period
- Deviation – deviation, the width of the band
- Applied price – price used for calculation
Interpretation of the indicator:
Enter a long position, when the MA line crosses the Mirror line upwards
Enter a short position, when the MA line crosses the Mirror line downwards
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