BANDS N (Metastock)
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- This topic has 8 replies, 5 voices, and was last updated 5 years ago by Vincenzo Tavernise.
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06/05/2017 at 11:17 AM #37471
It would be possible to recreate this indicator used in metastock (see attached picture):
The first and possibly the most important of the MetaSwing indicators are the N Bands. They are trading bands and as such represent price levels; thus they use the same chart scale as price. N Bands are different from Bollinger Bands or other trading bands. They are a calculation based on recent price history and the unique interaction of key volatility algorithms. At its core the N Band is a current and future measure of volatility. N Bands have special characteristics that you will see further in this section. The upper N Band [NBU] is colored red below, and the lower N Band [NBL] is blue. All MetaSwing indicators begin with a MSW prefix.
- Price generally tries to stay at least one ATR value for 40 periods;
away from the bands. Therefore the area within 1 ATR of the band can be considered support for the NBL and resistance for NBU.
- The true slope in degrees of the bands can be significant. When price bars are approaching N Bands and the N Band is approaching the price with a steep slope value, the probability of a price reversal increases. The short Adeo arrow below is an example.
- When price exceeds N Bands without a fundamental news event driving it, there is a very high probability for a reversal.
- MSW NB 3 Upper is the indicator for the upper N Band. MSW NB 3 Lower is the indicator for the lower N Band.
- MSW True Slope NB3L – 7 is the indicator for measuring the lower N Band’s slope in degrees. MSW True Slope NB3U – 7 is the indicator for measuring the upper N Band’s slope in degrees. These indicators measure the average slope for the previous 7 periods.
06/06/2017 at 1:04 PM #37612I moved your topic to the English forum. Do you have any other useful information for this indicator? Such as its original code?
In the example you attached, there is only the N Bands and not the “true slope” one, do you also need this last one?
06/06/2017 at 1:20 PM #37617Unfortunately Nicolas does not have the original code, what I know is that this indicator is used for Metastock. Bands N basically consist of lower and higher price bands acting, for example, with extreme support and endurance. N bands are very different in composition and usage compared to other forms of price bands, such as Bollinger bands, Keltner bands, or those based on standard error. The central element of the N bands is that they quantify the most significant level of consolidated implicit volatility of a title. In short, N band is a single price representation based on the implied volatility of the stock option. The N band is fractal by its nature, so it fits well at any periodicity of the chart.
The only thing I know and that is often repeated is that it reaches a moderate immediate level of support when the price enters an ATR 40 of the upper or lower N band.
Do you think you can help me Nicolas?
Purtroppo Nicolas non possiedo il codice originale, quello che so è che questo indicatore viene utilizzato per Metastock. Le bande N praticamente consistono in bande di prezzo inferiori e superiori che fungono, rispettivamente da supporto e resistenza estremi. Le bande N sono molto diverseper composizione e utilizzo, rispetto ad altre forme di bande di prezzo, quali le bande di Bollinger, quelle di Keltner o quelle basate sull’errore standard. L’elemento centrale delle bande N è che esse quantificano il livello più significativo di volatilità implicita consolidata di un titolo. In breve, la banda N è una singola rappresentazione del prezzo basata sulla volatilità implicita della stock option. La banda N è frattale per sua natura, per cui si adatta bene a qualsiasi periodicità del grafico.
L’unica cosa che so e che viene ripetuta spesso è che si raggiunge un livello immediato moderato di supporto quando il prezzo entra all’interno di un ATR 40 della banda N superiore o inferiore.
Pensi di potermi aiutare Nicolas?
06/06/2017 at 3:20 PM #3764606/06/2017 at 4:47 PM #37651I understand, is there nothing that can be done?
06/06/2017 at 7:53 PM #3765810/22/2019 at 3:14 PM #110846hello did you get updates on this beautiful indicator?
10/22/2019 at 3:48 PM #110854@Vincenzo Tavernise
Please do not double post! Thank you.
It it this one https://www.prorealcode.com/topic/help-with-conversion-of-metastock-code/#post-35931 ?
10/22/2019 at 4:53 PM #110873Per favore, non doppio post! Grazie.
È questo https://www.prorealcode.com/topic/help-with-conversion-of-metastock-code/#post-35931 ?
thanks for the reply, I wrote the double post because it was about the same topic but from different users. however no the discussion link speaks of another indicator, what I’m looking for is the bands n that draw horizontal levels.
- Price generally tries to stay at least one ATR value for 40 periods;
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