A Separate-Window Interpretation of Bollinger Bands

Summary

This document describes BBflat_sw, an indicator that presents a simple interpretation of Bollinger Bands in a separate chart window. Its configurable inputs include the averaging method and depth, a smoothing parameter, the band period and deviation, the applied price, and a horizontal bar shift. The default settings shown use simple moving average smoothing, a period of 100, and a deviation of 2.0.

The text identifies the indicator as an MQL4 implementation later adapted for MetaTrader 5, and notes that it relies on a smoothing library that must be available in the platform’s include folder. It references a separate article for details about the smoothing classes, but offers no trading rules, performance tests, or evidence that the indicator predicts price movements. The description is consequently useful as an overview of the indicator’s configurable construction and platform dependency, while leaving its interpretation and trading value to the user.

Key ideas

• BBflat_sw displays a Bollinger Bands interpretation in a separate chart window.
• Its inputs control smoothing, averaging depth, band period, deviation, price source, and shift.
• The documented defaults include a 100-period band calculation and a deviation of 2.0.
• The MetaTrader 5 version depends on an external smoothing library.
• The document provides no trading strategy or performance evaluation.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.