In the bollinger band description it says that the custom indicator for bollinger band width will be discussed.
There is no discussion.
I would like to use this indicator, I do not see it as an option in custom indicators or indicators in the software package.
Thanks!
In RTL, Bollinger Band Width would be:
((BOLU-BOLD)/MA)*100
thank you!
BOLU is used to access the upper Bollinger Band and BOLD the lower one (D for down).
So the width of the band would be...
BOLU - BOLD
The syntax Nicholas gave you...
((BOLU-BOLD)/MA)*100
Would give you the width of the band, as a percentage of the moving average price.
Thank you!
On the code I posted, the MA should be set to the same length as the Bollinger Bands (with the same MA type as well), since the MA represents the mid-line of the bands.