Oops, Upper Bollinger band should be: (mov(Close,20,S)+std(Close,20,2))
std(Close,20,2) in WOW is the same as 2*std(c,20), I believe. If I said std(Close,20,s), it was an error, a typo, and a nasty one. Sorry. In the formula at the top of this note, the standard deviation is the 2 at the end, the last one in the parenthesis -- that's just how WOW does it (like this: std(DataArray, Periods, # Deviations). But other people on these threads write it as 2*std(c,20)
Envelopes in WOW can be found under Plots/Moving Averages, not under Plots/Indicators. WOW doesn't give the formula for envelopes, I don't think, so I created this one for the upper envelope in my formula: (mov(c,89,s)+(.062*(mov(c,89,s))))
You don't have to use 89 for the moving average; 20 might be better. .062 is the vertical shift (how much the upper envelope line is above the moving average). ".062*mov" means 6.2 perscent of the moving average. An envelope line is just the moving average moved up a certain percentage above a simple moving average. Using two of them, you can create a channel around the moving average. I use one in the formula just to limit sell signals given by the upper Bollinger band.
Now the whole exit formula looks like this:
close<fml("Bollinger Band Upper") and ref(close,-pers)>ref(fml("Bollinger Band Upper"),-pers) and
(mov(Close,20,S)+std(Close,20,2))>(mov(c,89,s)+(.06*(mov(c,89,s))))
Bollinger Band Upper is: (mov(Close,20,S)+std(Close,20,2)) |
